Canada Account is used to support export transactions which we are unable to support, but which are determined by the Minister for International Trade to be in Canada's national interest. This is usually due to a combination of risks, including the size of the transaction, market risks, EDC's country capacity, borrower risks, and/or the financing conditions.
We negotiate, execute and administer these transactions on the same basis as corporate account activities but the risks are assumed by the Federal government. Before we enter into a Canada Account transaction, we require authorization from the Minister for International Trade, with the concurrence of the Minister of Finance. Transactions exceeding $50 million or those of a sensitive nature are, in practice, approved by Cabinet.
Date of signing (dd/mm/yy) |
Country of Transaction | Principal Counterparty | EDC Product | EDC Transaction Description | Range (Cdn.$) | Canadian Company |
17/05/2024 | Canada | Trans Mountain Corporation | Guarantee | Guarantee of Financing provided by commercial lenders to Trans Mountain Corporation | 750 million - <1 billion | Trans Mountain Corporation |
22/02/2024 | Canada | World Energy GH2 Limited Partnership | Project Financing | Development Expenditure Financing in Support of Green Hydrogen/Ammonia Project | 100 - <200 million | World Energy GH2 Limited Partnership |
08/12/2023 | Canada | EverWind NS Holdings Ltd. | Financing | Development Expenditure Financing in Support of a Green Hydrogen / Ammonia Project and Associated Wind Power | 100 - <200 million | EverWind NS Holdings Ltd. and EverWind Ltd. |
30/11/2023 | Canada | Trans Mountain Corporation | Guarantee | Guarantee of Financing provided by commercial lenders to Trans Mountain Corporation | 1.75 - <2 billion | Trans Mountain Corporation |
20/07/2023 | Canada | Trans Mountain Corporation | Guarantee | Guarantee of Financing provided by commercial lenders to Trans Mountain Corporation | 2.75 billion - <3 billion | Trans Mountain Corporation |
02/05/2023 | Canada | Trans Mountain Corporation | Guarantee | Guarantee of Financing provided by commercial lenders to Trans Mountain Corporation | 1.75 billion - <2 billion | Trans Mountain Corporation |
24/03/2023 | Canada | Trans Mountain Corporation | Guarantee | Guarantee of Financing provided by commercial lenders to Trans Mountain Corporation | 750 million - <1 billion | Trans Mountain Corporation |
22/12/2022 | Canada | LIL (2021) Limited Partnership | Financing | Support in relation to energy transmission and distribution | 1 - <1.25 billion | Nalcor Energy |
29/04/2022 | Canada | Trans Mountain Corporation | Guarantee | Guarantee of Financing provided by commercial lenders to Trans Mountain Corporation | 9.75 billion - <10 billion | Trans Mountain Corporation |
31/03/2022 | Canada | Canada TMP Finance Ltd. | Financing Renewals / Amendment | Working Capital Support/General Corporate Purposes | 1.75 billion - <2 billion | Trans Mountain Pipeline L.P. |
*01/10/2020 | Canada | Canada TMP Finance Ltd. | Financing Renewals / Amendment | Working Capital Support/General Corporate Purposes | 7.5 billion - <7.75 billion | Trans Mountain Pipeline L.P. |
31/08/2020 | Canada | Canada TMP Finance Ltd. | Financing Renewals / Amendment | Working Capital Support/General Corporate Purposes | 1 billion - <1.25 billion | Trans Mountain Pipeline L.P. |
24/04/2020 | Canada | Merit Functional Foods Corporation | Project Financing | Construction of a new plant protein extraction plant in Winnipeg, MB designed to produce 3,700 tonnes of pea protein or 3,600 tonnes of canola protein annually | 15 - <25 million | Merit Functional Foods Corporation |
**26/09/2019 | Canada | General Dynamics Land Systems - Canada Corporation | Financing | Support for working Capital/general corporate purposes | 500 mln. - 1 bln. |
General Dynamics Land Systems - Canada Corporation |
30/07/2019 | Canada | Canada TMP Finance Ltd. | Financing | Support for working Capital/general corporate purposes | 1 bln. + | Trans Mountain Pipeline L.P. |
03/04/2019 | Canada | Ecolomondo Environmental (Hawkesbury) Inc | Financing | Support for future procurement of various Canadian goods and/or services | 25-50 million | Ecolomondo Corporation |
21/01/19 | Canada | Arctic Gateway Group Limited Partnership | Financing | Support for working capital/general corporate purposes | 10-20 million | Arctic Gateway Group Limited Partnership |
29/08/18 | Canada | Project Deliver I Ltd. | Financing | Support for working capital/general corporate purposes | 1 billion + | Trans Mountain Pipeline L.P. |
14/06/18 | Canada | Royal Bank of Canada,Toronto-Dominion Bank(Trans Mountain Pipeline L.P.) | Guarantee | Support for working capital/general corporate purposes | 1 billion + | Trans Mountain Pipeline L.P. |
31/10/16 | Cuba | Royal Bank of Canada (Construction GART Inc.) | Guarantee | Sale of various Canadian goods and services | < 1 million | Construction GART Inc. |
05/01/12 | Cuba | Royal Bank of Canada (Construction GART Inc.) |
Guarantee | Sale of various Canadian goods and services | < 1 million | Construction GART Inc. |
17/11/10 | Cuba | Royal Bank of Canada (Construction GART Inc.) |
Guarantee | Sale of various Canadian goods and services | < 1 million | Construction GART Inc. |
30/09/09 | Cyprus | Ocean Hotels Plc | Financing |
Sale of marine vessel | 100-250 million | Davie Yards Inc. |
25/09/09 | Various Countries | SAS AB | Financing |
Sale of aircraft | 100-250 million | Bombardier Inc. - Aerospace |
31/07/09 | Canada | Air Canada | Financing |
Liquidity Facility | 50-100 million | Air Canada |
16/07/09 | Canada | National Bank of Canada (Terracam Équipement International Ltée) | Guarantee | Sale of various Canadian goods and services | < 1 million | Terracam Équipement International Ltée |
16/07/09 | Canada | National Bank of Canada (Terracam Équipement International Ltée) | Guarantee | Sale of various Canadian goods and services | 1-5 million | Terracam Équipement International Ltée |
04/05/09 | Canada | Royal Bank of Canada (Construction GART Inc.) | Guarantee | Sale of various Canadian goods and services | < 1 million | Construction GART Inc. |
29/04/09 | Canada | GM Corporation | Financing | Sale of various Canadian goods and services | 1 billion + | General Motors of Canada Limited |
23/04/09 | Norway | Cecon ASA | Financing | Sale of marine vessels | 100-250 million | Davie Yards Inc. |
30/03/09 | Canada | Chrysler LLC | Financing | Sale of various Canadian goods and services | 1 billion + | Chrysler Canada |
20/02/09 | Canada | Davie Yards Inc. | Financing | Sale of marine vessels | 25-50 million | Davie Yards Inc |
12/10/06 | United States | United States | Financing | Purchase of refunds of softwood lumber duty deposits and accrued interest | 1 billion + | Various softwood lumber exporters |
29/04/05 | United States | Comair, Inc., and Atlantic Southeast Airlines | Financing | Sale of aircraft | 100+ million | Bombardier Inc. - Aerospace |
23/06/04 | China, Peoples Republic Of | Bank of Communications | Financing | Sale of engineering and procurement services | 5-15 million | Conor Pacific Environmental Technologies Inc. |
05/07/04 | China, Peoples Republic Of | Industrial and Commercial Bank of China | Financing | Sale of engineering and procurement services | 5-15 million | Lockerbie Stanley Inc. |
28/07/04 | United States | Comair, Inc. | Financing | Sale of aircraft | 100+ million | Bombardier Inc. - Aerospace |
25/04/03 | China | China Construction Bank | Financing | Sale of hard-capsule machines | < 5 million | Technophar Equipment and Service Limited |
21/12/01 | United States | Air Wisconsin Airlines Corporation | Financing | Sale of aircraft | 100+ million | Bombardier Inc. |
06/05/02 | China | Bank of Communications | Financing | Sale of food processing plant chillers | < 5 million | Berg Chilling Systems Inc. |
20/06/02 | China | Industrial and Commercial Bank of China | Financing | District heating project | < 5 million | Joe Ng Engineering Limited |
12/12/02 | United States | Northwest Airlines | Financing | Sale of aircraft | 100+ million | Bombardier Inc. |
***03/01/03 | Romania | Societatea Nationala Nuclearelectrica S.A. | Guarantee | Supply of goods and services for a Candu 6 reactor with respect to the completion of Unit 2 of the Cernavoda Nuclear Power Project | 100+ million | Atomic Energy of Canada Ltd. (AECL) |
* When this transaction was originally published, it indicated an inaccurate dollar range as a result of an underwriting system error that has since been rectified. The disclosure was corrected to “7.5 billion - <7.75 billion” on July 20, 2022, from 3.75 billion - <4 billion. The disclosure reflects the Canada TMP Finance Ltd. Construction Loan Facility increase from $4.0 billion to $11.6 billion in the CDEV 2020 Corporate Plan.
** This transaction follows the August 16, 2019 statement of intention by the Government of Canada to provide a repayable loan of up to $650 million.
*** Information received indicates that the project’s design meets or exceeds one or more of the following standards: World Bank’s Pollution Prevention and Abatement Handbook; International Finance Corporation’s Guidelines and Safeguard Policies; environmental requirements, standards, policies or guidelines of the African Development Bank, Asian Development Bank, European Bank for Reconstruction and Development or the Inter-American Development Bank; Canadian Council of Ministers of the Environment - Canadian Environmental Quality Guidelines; World Health Organization - Air Quality and Drinking Water Quality Guidelines; good practices guidelines published by United Nations Environment Programme; good practices guidelines published by Responsible Care, International Council on Metals or the Environment, International Commission on Radiological Protection or International Atomic Energy Agency; International Organization for Standardization - ISO 14000 standards; as confirmed to EDC through its review if the Project in accordance with EDC’s Environmental Review Directive or otherwise.