NATIONAL TRADE CORRIDORS FUND
LOCATION: National
Issue/Source: National trade corridors fund
Date: MARCH 17, 2021
Suggested Responses
- The National Trade Corridors Fund is a merit-based program designed to help infrastructure owners and users invest in the critical assets that support economic activity in Canada.
- To date, the Government has announced $1.9 billion to 89 projects across the country, leveraging total investments in excess of $3.8 billion.
- These strategic investments in trade corridors are supporting increased global market access for Canadian goods and helping to get Canadians back to work.
- The Arctic and Northern call for proposals closed on March 15, 2021. $400 million in federal funding will be allocated to meritorious transportation infrastructure projects that support social and economic development in Canada’s Northern and Arctic regions.
IF PRESSED
- In an effort to limit disruptions, Transport Canada continues to monitor the impacts of the pandemic on supply chains and work with proponents to advance strategic transportation investments.
- More than 60 NTCF projects are underway and helping Canadians get back to work.
- The NTCF continuous call for proposals is still open for projects that support the diversification of Canadian trade to overseas markets.
BACKGROUND INFORMATION
- The NTCF is a dedicated source of funds that helps infrastructure owners and users invest in the critical assets that support economic activity and the physical movement of goods and people in Canada.
- NTCF funding is allocated to projects based on their individual merits, which are assessed according to how they help to strengthen the efficiency and resilience of transportation assets that are critical to support trade.
- Established in 2017, with a plan to invest $1.9 billion over 11 years, including $400 million to address urgent transportation needs in the territories, funding was accelerated in 2018 to support the Export Diversification Strategy to diversify Canada’s trade to overseas markets. The Continuous call for projects that support trade diversification remains open, although remaining funding is limited.
- Budget 2019 committed an additional $400 million for the Arctic and Northern regions, increasing the total NTCF funding envelope to $2.3 billion. The Arctic and Northern call for proposals, launched in October 2020, closed on March 15, 2021. Transport Canada officials are evaluating the comprehensive project proposals received and will make recommendations for Ministerial approval in the coming months.