Infrastructure bank to unveil plans to invest billions in priority areas

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Prime Minister Justin Trudeau will outline today how the Canada Infrastructure Bank intends to invest billions in projects aimed at creating jobs and contributing to the fight against climate change.

Government officials say no investments in specific projects are to be announced at a news conference today, where Trudeau is to be joined by the new chair of the bank's board, Michael Sabia, and Infrastructure Minister Catherine McKenna.

But the trio are expected to lay out the priority areas in which the bank intends to invest, as well as the amount of money it will devote to each area.

Among the priority areas are agricultural infrastructure in Western Canada and broadband to expand access to high-speed internet service across the country.

Officials, who spoke on condition of anonymity because they were not authorized to publicly reveal details before the announcement, say the investment plan is part of the government's promise in last week's throne speech to create one million jobs and help revive an economy ravaged by the COVID-19 pandemic.

It is also intended to help the government meet its goal of net-zero carbon emissions by 2050.