AFFECTED FLOWOutflow (subsidised)
ANNOUNCED AS TEMPORARYNo
On 12 December 2017, Export Development Bank Canada (EDC) announced export financing for various Canadian exporters (extractive-oil & gas) relating to exports to Mexico. The stated purpose of the transaction is support for future procurement of various Canadian goods and/or services to Petroleos Mexicanos, Mexico.
EDC publishes value ranges rather than precise values for the projects it finances. The present project will receive an amount in the range Can.$250-500 million. Taking the lowest possible amount, in this case, Can.$250 million (approx. U.S.$195.55 million), is our conservative estimate of the financing received.
The GTA includes state guarantees and other financial incentives that are likely to affect the restructuring and performance of firms facing international competition, whether from imports, in export markets and from foreign subsidiaries.
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