The federal government announced today that Canada will contribute $20 million to the Global Infrastructure Hub (GI Hub) in Toronto to establish the city as the centre of North American operations.
The new Toronto location will be the first GI Hub outside of Australia. It was originally granted a four-year term, beginning in November 2014, when it was established by G20 leaders.
The GI Hub brings together public and private investors to develop infrastructure projects that benefit communities, and connect global markets.
According to the federal government “these projects fuel long-term economic growth while supporting the transition to a low-carbon economy, and making progress towards achieving the United Nations’ Sustainable Development Goals.”
Specifically, the GI Hub works to address key challenges to sustainable economic growth that benefits all Canadians, including improving the representation of women and other marginalized groups in sustainable infrastructure, narrowing a global infrastructure gap in emerging markets, and strengthening infrastructure resilience and reducing threats posed by climate change.
“The Global Infrastructure Hub is helping deliver transformative infrastructure projects and creating good, middle-class jobs around the world. Our investment will open up new ways to share Canadian expertise, connect large investors to opportunities at home and abroad, and help the GI Hub continue to develop the resilient, sustainable infrastructure that communities need worldwide,” said Prime Minister Justin Trudeau, in a statement.
The GI Hub will use $5 million of the funding to establish the Global Centre for Infrastructure Excellence. Located at the new GI Hub Toronto location, the centre will focus on ensuring private investments are effectively mobilized for resilient, sustainable infrastructure on a global scale.