ANNOUNCEMENT 23 Jun 2017
In 2017 Export Development Bank Canada announced financing for Canadian suppliers.
NUMBER OF INTERVENTIONS
On 23 June 2017, Export Development Bank Canada (EDC) announced export financing for various Canadian exporters (extractive-oil & gas) relating to exports to Oman. The stated purpose of the transaction is support for working capital/general corporate purposes to Oman Oil Company S.A.O.C., Oman.
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.$75.2 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.