Not clear at all why Carney is creating this SWF. He can call it as he wishes, but it’s not a SWF as traditionally known. Nor is it another Canada Infrastructure Bank, which was focussed on loans. It appears to be more of a vehicle to attract and channel private investment 1/
(including personal savings) into government infrastructure projects. But there is currently nothing preventing the government from partnering with private investors on specific projects and there is no lack of investment vehicles for households to channel their savings. In 2/
other words, it’s not clear what problem this is designed to solve, or how it solves it.
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