Canada’s Carney announces a sovereign wealth fund

Canadian Prime Minister Mark Carney announced the development of a government-owned investment fund, the first of its kind in Canada, starting with 25 billion Canadian dollars. This fund will invest in major industrial projects in sectors such as energy, infrastructure, agriculture, and technology. Carney emphasized the importance of learning from other countries that have successfully established sovereign wealth funds. The announcement came a day before his government's spring economic update.