P3 Canada Fund opens 'round four' of project financing

The C$1.2bn P3 Canada Fund, operated by PPP Canada, has opened round four and is vetting project work for financing. The federal government vehicle has handed out C$109m so far.

The P3 Canada Fund, a federal government vehicle established to fund public-private partnership (PPP) work in Canada, has opened “round four” of its financing, according to a statement.

PPP Canada, a crown corporation charged with managing the C$1.2 billion (€924 million; $1.2 billion) fund, will evaluate project work through June 15, a spokeswoman said. She claimed her organisation would reveal each project that received funding in the fall.

PPP Canada chief executive John McBride said the latest financing round would seek to fund public infrastructure, such as transportation, water and wastewater management, solid waste disposal as well as brownfield redevelopment.

McBride in a statement went on to claim PPP Canada was interested in finding project work that could “provide evidence that as a PPP the project will deliver value for money compared to traditional procurement”.

To date, the fund has recorded C$109 million in funding for both its first and second round, PPP Canada said. 

PPP Canada, based in Ottawa, was established in 2008.