Bank of Montreal and Sun Life Financial have committed to bankroll Ottawa's economic security agenda, pledging 75 billion Canadian dollars ($54.22 billion) in private-sector capital to support Canada's infrastructure push.

Two of Canada's largest financial institutions made the announcements Friday, with BMO planning to mobilize up to C$70 billion over the next decade through commercial capital for sectors critical to Canadian economic security and resilience, including power generation, oil and gas pipelines, transportation infrastructure and artificial intelligence computing, among others.

At the same time, institutional asset manager Sun Life launched its own C$5 billion initiative to take direct debt and equity stakes in major national projects.

BMO and Sun Life join other Canadian corporate powerhouses this week to pledge cash aimed at accelerating economic development amid crossborder trade turbulence. The announcements come days before a high-profile summit that Prime Minister Mark Carney is hosting in Toronto, which officials say will attract some of the world's biggest investors to showcase projects in Canada worthy of investment.

The news follows a similar announcement Thursday by Power Corp. of Canada, a financial holding company, which has plans to deploy and mobilize C$10 billion into domestic infrastructure and related midmarket companies over the course of the next five years.

Power Corp. said its investment target includes capital deployed directly through the manager's strategies, co-investment capital, and debt and other third-party financing.