Alberta Invests $2 Billion Into Wealth Fund to Speed Growth Plan

Canada’s top oil-producing province of Alberta is injecting C$2.8 billion ($2 billion) into its provincial wealth fund, advancing a plan to wean itself off volatile resource revenue in the decades ahead.

The investment brings the balance in Alberta’s Heritage Savings Trust Fund to a record C$30 billion, the provincial government said Friday. The government also appointed board members to a new corporation that will oversee the fund.