OTTAWA, ON – The federal government’s fall economic statement includes billions of dollars for new infrastructure, and creates a Canada Infrastructure Bank that will look to maximize investments in “growth-oriented” projects.

About $10.1 billion is pledged to help bring Canadian goods to global markets over the next 11 years.

“Right across Canada, infrastructure projects are creating good jobs while ensuring stronger communities,” Finance Minister Bill Morneau said. “But we’re not done. Not even close.”

“Priority investments would include those that address congestion and bottlenecks along vital corridors and around transportation hubs and ports providing access to world markets,” according to the economic statement itself. In particular, investments are promised for marine and rail safety, including additional inspection capacity.

The Canada Infrastructure Bank will invest at least $35 billion into large infrastructure projects that contribute to economic growth through loans, loan guarantees and equity investments. Of that, $15 billion will be earmarked from the announced funding for trade and transportation, public transit, green infrastructure, social infrastructure, and rural and northern communities.

“This bank will allow us to create thousands of jobs, get more projects built, and attract as much as $4 to $5 in private capital for every tax dollar invested,” Morneau says. “That’s progress.”