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Canada's Minister of Transport Omar Alghabra announced yesterday that the National Trade Corridors Fund has received an additional CA$1.9 billion and that projects can now be financed.
This new funding will build on the CA$1.9 billion committed to date for 89 projects nationally through the corridors fund. With private and public sector partners joining the federal government with their own contributions, the projects represent CA$3.9 billion worth of investments, Alghabra said in a news release.
Applications are now being accepted and assessed under the fund's continuous call for proposals. Transport Canada manages the corridors fund, which supports improvements to rail, road, air and marine shipping routes to foster domestic and international trade.
"By funding investments in [these] shipping routes, we're building Canada back better while increasing our competitiveness globally," Alghabra said.