ANNOUNCEMENT 29 May 2020
In 2020, Export Development Bank Canada announced financing for Canadian suppliers.
NUMBER OF INTERVENTIONS
On 29 May 2020, Export Development Bank Canada (EDC) announced that it had provided working capital support to oilfield equipment producer Parex Resources Inc. for oil and gas exploration and production projects in Colombia. EDC publishes value ranges rather than precise values. The present project will receive an amount in the range Can.$50-75 million. Taking the lowest possible amount, in this case Can.$50 million (U.S.$37.9 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.