Canada’s export credit agency has been operating with a mandate to help Canadian companies go, grow and succeed internationally since 1944. Now in its 75th year, EDC has become – thanks to this kind of national recognition – increasingly known as an employee-focused organization with a diverse and passionate workforce. “The biggest asset of any great … Read more
MaRS Discovery District (MaRS) and Export Development Canada announced a new partnership aimed at helping Canadian science and technology companies with global potential to validate new market opportunities and expand internationally. Through this partnership, the two organizations will develop a tailored and dedicated program of advice and expertise for growing Canadian companies – the International Solutions … Read more
Export Development Canada (EDC) has resolved its litigation in the United Kingdom with Westdawn Investments. With the settlement, Westdawn is now agreeing to the legal steps taken by EDC starting in December 2017 to end its business relationship with the company. On August 14, 2019, EDC issued a statement expressing regret for providing a US$41 million loan in … Read more
Export Development Canada is excited to once again recognize a select group of cleantech companies whose technologies and business strategies have succeeded in getting their products beyond Canada’s borders. EDC’s Executive Vice President and Chief Business Officer Carl Burlock announced the five companies that stand out among the hundreds in Canada’s growing cleantech sector. Congratulations to Effenco, … Read more
There is a strange dichotomy at play in the global economy. On one hand, global growth is slowing, led by weak business investment and trade. But the other, on the consumer side, the picture is much better; job creation continues, unemployment is low, and consumer spending is holding up. “This is a high-stakes game. If there is … Read more
Export Development Canada announced its support for APG-Neuros, with a $10 million investment. “EDC has been working with APG-Neuros for 10 years, supporting their rapid growth and ability to perform in the international space,” said Eugene Siklos, Vice-President of Investments at EDC. “To keep pace with the expanding cleantech market, the company wants to update their innovative … Read more
Export Development Canada welcomes Bombardier’s statement related to the ongoing World Bank investigation into Bombardier Transportation’s 2013 contract in Azerbaijan. EDC also acknowledges the positive steps the company has taken so far, including launching its own internal review and committing to take any necessary actions as a result. EDC has engaged a third-party to provide an independent … Read more
In March 2019, Export Development Canada (EDC) initiated a third-party review relating to a political risk insurance policy it provided to a commercial bank in 2011 in support of SNC-Lavalin’s business activities relating to the Matala Dam in Angola. Today, EDC is announcing the result of the third-party review, which has found no evidence of … Read more
Export Development Canada announced a $32.1 million project finance loan for Ecolomondo. The loan will allow the company to build its first commercial plant that will treat end-of-life tires, in Hawkesbury, Ontario, creating approximately 40 direct jobs. The Montreal-based company has developed a ground-breaking approach to managing hydrocarbon waste, which makes up 34 per cent of what is put … Read more
Trade confidence among Canada’s exporters fell to its lowest level since the European debt crisis seven years ago, according to the latest Trade Confidence Index from Export Development Canada. All five components of EDC’s index were down again, continuing the decline seen in the 2018 year-end survey. “Disruptive international trade policies have clearly shaken the confidence of Canadian exporters,” said Peter Hall, Chief Economist with EDC. “One third of respondents are already negatively impacted by protectionist measures now in place, and an overwhelming majority sees no resolution of major global trade issues within the next year.” The full release is available online. Call 613-597-8872.
