FUNDING FOR THE National Trade Corridors Fund
Requesting $9,733,217 for the 2020-21 Supplementary Estimates B
The National Trade Corridors Fund is seeking access to $10,000,000 in operating and contribution funding for fiscal year 2020-21.
Key Messages:
- The $9,733,217 in planned spending comes from the $400 million in funding provided to Transport Canada in Budget 2019 for the National Trade Corridors Fund (NTCF) program under the Arctic and Northern Policy Framework (ANPF).
- The NTCF provides federal funding for projects and activities that strengthen the efficiency and resilience of national trade corridors, including those related to Northern infrastructure.
- The additional $400 million NTCF funding for the Arctic and North responds to the strong demand for the NTCF’s initial $400 million allocation available for projects in the territories, permitting additional needed investments that will help Arctic and northern regions to close the infrastructure gap with other regions in Canada.
- NTCF investments support improved Canadian supply chain performance, the fluidity and efficiency of Canadian trade, the resilience of Canada’s transportation system in a changing climate, and transportation safety and economic and social development in Canada’s Arctic and northern regions.
- The National Trade Corridors Fund (NTCF) is a dedicated source of funding that will help infrastructure owners and users to invest in the critical assets that support economic activity and the physical movement of goods and people in Canada. It is a long-term commitment by the federal government to work with stakeholders on strategic infrastructure projects that help to address transportation bottlenecks, vulnerabilities and congestion.
If pressed
- To date, the NTCF has funded 85 projects of national significance across Canada. Over $1.7 billion in NTCF funding has been committed, leveraging a total $3.8 billion in infrastructure investments. This includes 15 projects across Canada’s Territorial North, committing $379 million in NTCF funding and leveraging $528 million in infrastructure investments.
Background
- The National Trade Corridors Fund (NTCF) is a dedicated source of funds for strategic transportation infrastructure investments to build more efficient and fluid trade corridors to global markets.
- Established in 2017, with $1.9B over 11 years, including $400M to address urgent transportation needs in the territories, such as safety and fostering development.
- Since 2017, TC allocated 95% of the Budget 2017 funding for the 11-year program in just two years on projects of national significance.
- 2018 Fall Economic Statement committed to accelerate the investment of the NTCF over the next five years, in support to the Export Diversification Strategy to diversify trade to markets beyond North America.
- Budget 2019 committed an additional $400M for the Arctic and northern regions, increasing the total NTCF funding envelop to $2.3B.