The money being set aside for the fund will come from the "existing fiscal framework" and the government will seek to attract C$3 of private investment for every C$1 of public funding, the source said.
The fund, to be drawn from money set aside in the past, will be outlined in this year's budget, but it will take a few months to flesh out its mandate and make operational, said the source, who was not authorized to speak on the record. The aim of Prime Minister Justin Trudeau's Liberal government is to use the fund to stand up projects that may not be possible without public support. Private international or domestic investors will be eligible to use it, the source said.
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