The provincial government announced on Tuesday that it plans to create the $400 million B.C. Strategic Investment Fund that would help further support private-sector projects.

“The proposed fund would allow the government to consider loans, equity investments, and repayable contributions to allow the province to share in a project’s success,” said the government in a news release.

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According to the province, the fund would allow B.C. to attract private-sector investments similar to those of Ontario, Quebec, and the federal government.

Speaking to reporters in Victoria, Eby says the fund is in response to economic upheavals, referring to Canada seeking new trade opportunities in light of U.S. President Donald Trump’s tariffs.

“British Columbia is going to seize this moment. We have everything that the world needs,” Eby said.

“We have our deep-water ports with access to fast-growing Pacific markets. We have the resources that the world is looking for. We have the industries that can deliver for Canadians and assist the federal government in achieving its goals.”

He adds that the BC Conservatives are against the fund.

“This is an important distinction between our approach and their approach,” Eby said.

“We believe that by partnering with the private sector industry […] we can bring benefits like jobs and prosperity to British Columbians. And the Conservatives do not support that approach.”

The fund is part of B.C.’s proposed budget and, if passed by the legislature, would complement other already existing financial reserves within the government’s Look West strategy.

According to Eby, the province looks to attract $50 billion of investments in the next year and $200 billion over the next 10 years.