After the province called a press conference Wednesday evening, CTV News has learned the federal government has withdrawn funding for the new Royal Alberta Museum, which would be built downtown.

Minister of Infrastructure Jeff Johnson announced Wednesday evening that Ottawa cannot fulfill their financial commitment to the project.

The federal government was supposed to cover $92 million, of the total $340 million price tag.

Despite the change, the province will still pursue the land the museum would stand on, however current contracts with developers have been cancelled.