Ottawa ON - John Manley, Deputy Prime Minister and Minister of Finance, and Karen Redman, MP for Kitchener Centre, announced today that the Government of Canada will provide a $30-million grant to help fund the creation of a world-class research centre on international governance in Waterloo, Ontario.

The Centre for International Governance Innovation (CIGI) will research issues concerning the stability and security of the international economic and financial system. The grant will match the $30-million contribution to be made by the Centre's founder, Jim Balsillie, Chairman and Co-CEO of Research In Motion Limited.

"The goal of better governance in global economics and finance has been central to Canada's efforts as this year's chair of the G7/8," said Minister Manley. "By supporting this institute, Canada can ensure it remains at the forefront of this work for years to come."

The CIGI, which will open later this year, will operate as an independent centre for scholarly research. Part of its mandate will be to provide analysis and practical policy advice on key international economic issues.

"Funding this Centre is one of the ways that Canada is meeting the commitment it made in the 2001 Speech From the Throne to strengthen global governance," said Ms. Redman. "And the establishment of the Centre in this community demonstrates how the Kitchener-Waterloo area brings together the best of academia and the entrepreneurial spirit to create what we like to call 'The Canadian Advantage'."

Mr. Balsillie welcomed the Government's support of the institute. "The CIGI will provide coherence, focus, and voice to the best minds in the world on the global economy," he said. "Our exceptional research will influence the development of new rules of the game with respect to the world's economy. We are extremely proud of this innovative partnership between the private sector and the Canadian government."

The opinions expressed in this article/multimedia are those of the author(s) and do not necessarily reflect the views of CIGI or its Board of Directors.