Question Period Note: EDC

• Export Development Canada (EDC) is an arm's length Crown corporation mandated to support and develop Canada's export trade.
• EDC makes its own investment decisions under a robust framework of financial, social and environmental due diligence.

• With respect to specific transactions under consideration, EDC is subject to business confidentiality under the Export Development Act.
• EDC's framework for business disclosure must carefully balance confidentiality and transparency requirements.

EDC is Canada's export credit agency. The Export Development Act provides EDC with the mandate to support and develop, directly or indirectly, Canada's export trade, and Canadian capacity to engage in that trade, and to respond to international business opportunities. EDC provides a range of trade finance and risk management services, including short-term credit insurance, direct loans, loan guarantees, bonding support, and political risk insurance.

The day-to-day operations of EDC are at arm's length from the Government. EDC is governed by a Chair and Board of Directors responsible for implementing the direction provided by the Minister of Small Business, Export Promotion and International Trade. Directors, other than the Chair and the President, are appointed by the Minister of Small Business, Export Promotion and International Trade. The President and the Chair are appointed by the Governor in Council (GIC) on the recommendation of the Minister of Small Business, Export Promotion and International Trade after consultation with the Board. Martine Irman is the current Chair of EDC's Board of Directors and Mairead Lavery is the current President.

The Minister of Small Business, Export Promotion and International Trade is accountable to Parliament for EDC and also recommends approval of its annual corporate plan to the Treasury Board, with the Minister of Finance also approving its Borrowing Plan.

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