ANNOUNCEMENT 01 Jun 2017
In 2017 Export Development Bank Canada announced financing for Canadian suppliers.
NUMBER OF INTERVENTIONS
On 1 June 2017, Export Development Bank Canada (EDC) announced export financing for Gran Tierra Resources Limited relating to exports to Colombia. The stated purpose of the transaction is support for working capital/general corporate purposes to Gran Tierra Energy Inc., Colombia.
EDC publishes value ranges rather than precise values for the projects it finances. The present project will receive an amount in the range Can.$50-100 million. Taking the lowest possible amount, in this case, Can.$50 million (approx. U.S.$37.6 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.