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The Canadian government has guaranteed billions in new commercial loans to finance the controversial Trans Mountain pipeline project amid growing concerns of huge cost overruns.

In 2018, the government nationalized the project, which runs from Alberta to the Pacific coast.

The new loan guarantees — totalling up to Can$3 billion — were agreed to in late July but appeared on the government website of Export Development Canada (EDC) only late Friday.

This was the EDC's third announcement this year of new commercial loan guarantees for the project.

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