Thank you, Madam Chair.
I want to preface my comments by saying that this is one of the reasons I ran at the federal level. I was a mayor for 14 years. There was a great frustration with the last government, with respect to the disconnect between the local level and the federal level, and with that, some of the programs that were brought forward. I have to disagree with the comments made by Mr. Chong, a member of the official opposition, with respect to his earlier comments in where this is leading; why we're going down this road; the benefit it's going to place on local municipalities and private sector; the outcomes it's going to accrue over time when it comes to our economic growth; as well as, quite frankly, creating jobs and ensuring that projects get off the ground to do just that.
The government has, in fact, approved more than 4,000 infrastructure projects across this country since the fall of 2015, with a combined investment of more than $35 billion. Those projects are already creating economic growth and opportunities for Canadians. They're building healthy, livable, and sustainable communities. Re-profiling the dollars within the years of our plan is an issue of cash flow management, not one of lack of activity.
Our government has now signed bilateral agreements with seven provinces and territories that now have long-term, sustainable, and predictable funding. Through these agreements, our government will invest $33 billion to improve public transit and communities to reduce congestion and pollution, to invest in green infrastructure to make our communities more resilient to climate change, and to invest in cultural community and recreational infrastructures to build healthier, more inclusive communities. Our government is investing $2.4 billion in rural and northern communities to support them in a way that they were never supported by the previous government, as I mentioned earlier.
Going to my earlier comments, the new plan is not a one-third, one-third, one-third plan like previous governments had offered, therefore having “have” and “have-not” situations. We had some communities— most communities—that couldn't afford to participate in some of these programs because of the expected one-third contribution. The new investing in Canada plan that we're proposing, with the federal level investing up to 40%, 50%, to 60% for some projects, eases the burden of municipal partners. This now leads me to some of my questions.
Mr. Fraser mentioned bundling and ensuring that the partnerships that we're trying to create through this program happen—especially with the infrastructure bank—and that they're realistic.
My first question is to the infrastructure bank folks. Will you actually encourage, first, the bundling of projects? Therefore, we get a greater rate of return, a greater clustering being created in certain parts of the country, especially as it relates to trade corridors that are economic in nature.
Second, are you encouraging bundling that may be binational? Investment coming in from the United States that is transportation related.... It may be a bridge, it may be a road, it may be a cluster of business opportunities between two or three countries. Are you encouraging that kind of investing as well?