The Canadian government unveiled plans to spend billions of dollars on infrastructure projects that will aid a change to a low-carbon economy during the pandemic recovery period. It will also create about 60,000 jobs over three years.
The government’s new Canada Infrastructure Bank will manage the spending, which totals Can$10 billion (US$7.5 billion). It is also meant to finance electric buses, renewable power generation and building retrofits. The proposed projects will promise some private investment.
Catherine McKenna, Minister of Infrastructure said, ‘Families and businesses want to locate and build where they know infrastructure is modern, clean and resilient.’
‘And Canada has an excellent opportunity to be the low-carbon economy that global investors beat a path to, if we keep making smart choices right now.’
Justin Trudeau, the Canadian Prime Minister disclosed last week that, his government would aim towards beating its target for reducing greenhouse gas emissions. Under the Paris Agreement, Ottawa committed to cut down CO2 emissions by 30 percent below the 2005 levels by 2030.
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He further said that the infrastructure money will also go will connect about 750,000 homes and small businesses underserved communities to broadband, and to irrigate 700,000 more acres (283,300 hectares) of land to enable Canadian farmers to increase output and produce more food.
(Adenike Omosanya)