The Globe and Mail reports in its Friday edition that Royal Bank of Canada chief executive officer Dave McKay said the lender plans to spend up to $1-billion in the coming years to bolster investments in Canadian companies as the country attempts to redraw trade routes. The Globe's Stefanie Marotta writes that to fund Canada's major projects, the country will need $1.8-trillion in capital investment over the next decade, according to new research by the bank. That will require the private sector to step up, Ottawa to attract foreign investment, and companies to remain and grow in Canada, Mr. McKay told The Globe. "I see more interest in Canada than I've seen in two decades." he said. "Canada has a bright future, but it's got to get things done. We have a reputation of not getting things done, and it's critical that we start to land some of these projects and quickly. Capital moves fast, and if it sees a better opportunity over there while it's waiting for you, it's not going to wait." The country's biggest bank plans to launch a growth fund to help companies scale in Canada. Mr. McKay said it will be similar to a venture capital fund alongside the direct equity investments that RBC already makes in Canadian companies.
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