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Toronto’s executive committee will debate whether it is worthwhile and financially responsible to bid for the 2025 World Expo today.

The Expo, which is often associated with accelerated infrastructure projects for the host city, is an educational event aimed at promoting innovation and it held every five years.

Prime Minister Trudeau says if council approves a bid, the federal government will “explore next steps.”

READ MORE: Trudeau ready to “explore next steps” if Toronto 2025 Expo bid made

But Mayor John Tory has said he won’t support a bid unless the federal and provincial governments commit to contributing money.

“I appreciate the support we are seeing for an Expo bid this week but this doesn’t reduce the need for a very honest, sensible discussion of the requirements… in making such an important decision,” he said in a statement released on Monday.

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Tory also nixed a possible bid for the 2024 Summer Olympics last year saying the city wasn’t ready.

VIDEO: 2025 World Expo bid being explored for Toronto

2:03 2025 World Expo bid being explored for Toronto 2025 World Expo bid being explored for Toronto

-With a file from Will Campbell and The Canadian Press