ANNOUNCEMENT 31 Aug 2017
In 2017 Export Development Bank Canada announced financing for Canadian suppliers.
NUMBER OF INTERVENTIONS
On 31 August 2017, Export Development Bank Canada (EDC) announced export financing for General Electric Canada Company (Norte III Combined Cycle Power Plant Project) relating to exports to Mexico. The stated purpose of the transaction is the sale of turbines, parts and/or services to Abeinsa Juarez N-III, S.A. de C.V., 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.$100-250 million. Taking the lowest possible amount, in this case, Can.$100 million (approx. U.S.$79.34 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.