CHARLOTTETOWN—The federal government and the provincial government of Prince Edward Island have announced the signing of a new bilateral agreement that will provide more than $366 million in federal funding over the next decade for infrastructure projects.
The projects supported through this agreement will be cost-shared with the provincial government, municipalities and other partners.
The money will go towards green infrastructure, recreational and cultural infrastructure, rural and northern community infrastructure, and public transit.
Infrastructure Canada says that across Canada, more than $33 billion in federal funding will be invested through these new bilateral agreements with provinces and territories.
“Long-term investments in infrastructure are key to creating jobs and new opportunities for the middle class, as well as laying the groundwork for sustainable, long-term economic growth in Canada,” said François-Philippe Champagne, minister of Infrastructure and Communities, in a statement.
Champagne continued, “I am very pleased to join Prince Edward Island today for the signing of this agreement as part of our Investing in Canada plan. Islanders will enjoy safer roads and highways, improved water and wastewater facilities, and will benefit from new green infrastructure. These investments will build strong, resilient and inclusive communities that will remain competitive in today’s economy and over the next century.”