ANNOUNCEMENT 07 Feb 2017
In 2017 Export Development Bank Canada announced financing for Canadian suppliers.
NUMBER OF INTERVENTIONS
On 7 February 2017, Export Development Bank Canada (EDC) announced export financing for IAMGOLD Corporation. The stated purpose of the transaction is support for working capital/general corporate purposes for a subsidiary of IAMGOLD Corporation in Burkina Faso.
EDC publishes value ranges rather than precise values for the projects it finances. The present project will receive an amount in the range Can.$15-25 million. Taking the lowest possible amount, in this case, Can.$15 million (approx. U.S.$11.44 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.