Canada Launches First Sovereign Wealth Fund to Strengthen Economic Independence

Canada has announced the creation of its first sovereign wealth fund, the 'Canada Strong Fund', with an initial capital of 25 billion Canadian dollars (around $18.3 billion). This initiative aims to reduce the country's long-term economic dependence on the United States, focusing on strategic sectors such as energy, critical minerals, and infrastructure. Prime Minister Mark Carney emphasized the need for Canada to diversify its economic partnerships in response to a changing global order.