Prime Minister Mark Carney announces creation of Canadian sovereign wealth fund

TORONTO (AP) — Prime Minister Mark Carney announced Monday the Canadian government is developing a government-owned investment fund.

Carney said the fund will invest in major Canadian industrial projects in areas such as energy, infrastructure, mining, agriculture and technology. It will begin at 25 billion Canadian dollars ($18 billion).

The prime minister said the federal government will put up funds alongside private investors. The money will help fund major projects Carney’s...