BMO Pledges $70 Billion for Critical Canadian Sectors Ahead of Carney Summit

BMO, one of Canada's major banks, has announced it will commit $70 billion over ten years to finance critical sectors in the Canadian economy.

The bank plans to support projects in areas such as electricity, energy, and transportation infrastructure, mining, AI computing, defense, and security, and oil and gas.

This move comes ahead of Prime Minister Mark Carney's investment summit, which kicks off in Toronto on Monday. The summit aims to raise $1 trillion in total investment in Canada over the next five years.