Justin Trudeau is in Toronto today with nine members of his cabinet and $21 trillion to attract powerful institutional investors which will give Canadians a healthy platform to boost on their investment possibilities.
Also part of the meeting will be representatives of central banks, sovereign wealth funds, insurers and pension funds whose assets joined together is $21 trillion.
In an effort to improve on Canada’s economy that is growing at a slow pace, the Liberal government is trying to make a change in its infrastructure programs.
This venture came after then. Finance Minister Bill Morneau revealed that he has plans to establish an infrastructure bank in the coming year, and the government has promised to support the course.
Furthermore the government also has plans to open an Invest in Canada Hub which will draw in more of foreign investors. The government is also planning to limit some regulations on foreign investors so that they can also contribute more to the growth and development of the Canadian economy.
As part of their plans for today, the Finance Minster Trudeau will meet with local investors before meeting with foreign investors to explain their plans.
Although the government is the main organizer of the summit, they have also called on board the world’s largest asset manager BlackRock Inc. to help facilitate the event. The founder of BlackRock, Laurence Fink is also expected to grace the occasion.
For the mean time, there is no project that requires funding from the bank but Trudeau has highlighted key projects that the bank is willing to fund. They include toll bridges, energy grids and water systems. They are mostly focused on projects with longterm benefits.