Canada will establish its first sovereign wealth fund with an initial size of 250 billion Canadian dollars.

Canadian Prime Minister Kenny announced on Monday that Canada will establish a sovereign wealth fund with an initial size of 250 billion Canadian dollars to invest in major domestic projects. This fund will be Canada's first sovereign wealth fund, announced just before the release of Canada's fiscal report. Sovereign wealth funds are essentially a country's savings and investment account, aimed at accumulating wealth for future generations, Kenny said. Kenny stated that the Canada Strong Fund will collaborate with the private sector to invest in major projects across the country through a commercialization model, and expand its scale through asset turnover and reinvestment.