Alberta unveils $2B transit fund

The Alberta government is earmarking $2 billion to promote public transit in cities and towns across the province, with the lion's share going to Calgary and Edmonton, officials said Tuesday.

The Green Transit Incentives Program or GreenTrip will make $800millionavailable to the Calgary area and the same amount for Edmonton and region.

Other municipalities in the province will have access to $400 million to help pay for new and expanded public transit systems, the province said in a release.

"GreenTrip will support communities as they plan for the future, give Albertans better access to public transit and reduce Alberta's carbon footprint," said Premier Ed Stelmach.

Under the multi-year program, municipalities will be required to contribute at least one-third of a project's capital cost, with GreenTrip providing the balance in installments.

The program will help reduce the number of vehicles on Alberta roads as well as greenhouse gas emissions, according to the province.

"This is a huge investment in public transit," said Luke Ouellette, Alberta's minister of transportation.