Old money for new projects

by Array

OTTAWA, Ontario—In an effort to emphasize its priorities, the federal government is redirecting money to support Asia-Pacific Gateway-related projects in British Columbia.

Approximately $50 million was designated for the Asia-Pacific Gateway and Corridor Initiative (APGCI) projects that are not proceeding. Rather than have the funds remain unused, the province of British Columbia, local municipalities, Canada Port Authorities and other stakeholders engaged in British Columbia’s transportation system will have the opportunity to apply for funding for new proposals.

The deadline for applications is December 12, 2012, and approved projects must be completed by March 31, 2016. Additionally, all projects must be created with the goal of increasing Canadian exports to Asia. Further details about the project requirements and the RFP rules will be made available when the government formally announces this latest funding round. That is expected to happen some time in the coming weeks.

“Our government is committed to helping our exporters reach fast-growing Asia-Pacific markets by continuing to boost Canada’s competitive advantages,” said Ed Fast, minister of international trade and minister for the Asia-Pacific Gateway.  “That is why we are ensuring that all of the funds committed to helping better facilitate Canadian exports to Asia are utilized.  New projects will help create jobs, growth and prosperity in local communities and ensure the Asia-Pacific Gateway remains North America’s gateway of choice to Asia.”

A list of the existing Asia-Pacific Gateway projects can be found on the project’s website. So far, the federal government has invested in infrastructure projects, valued at over $3.3 billion, with federal investments of $1.4 billion, in partnership with all four western provinces, municipalities and the private sector.