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Canada Account

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. Since October 1, 2001 we have disclosed all 17 Canada Account transactions.

Canada Account transactions

Date of signing
(dd/mm/yy)
Country of Transaction Principal Counterparty EDC Product EDC Transaction Description Range (Cdn.$) Canadian Company
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)

* 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.