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Ottawa talking to pension funds about investing in infrastructure

Infrastructure and Communities Minister Amarjeet Sohi.

The Canadian government is talking to the country’s largest pension funds about investing in billions of dollars worth of infrastructure projects to help stimulate the economy, the Infrastructure Ministry told Reuters on Wednesday.

Prime Minister Justin Trudeau’s Liberals won an election in October on the back of a promise to run three consecutive annual budget deficits of up to $10 billion to help fund investment in infrastructure and will seek to boost that with private funding, sources told Reuters.

The funds are fiercely protective of their independence from political interference and would not be compelled to invest, but their backing for the projects would be a major boost for Trudeau.

“We are engaging pension funds and other potential partners to find areas of alignment,” a spokeswoman for Infrastructure Minister Amarjeet Sohi said. She did not give further details.

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