Canada Account

Disclosure

 

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. 

The Canada Emergency Business Account (CEBA) was launched by the Government of Canada to ensure that small businesses have access to the capital they need to see them through the challenges caused by COVID-19. This program is being delivered by qualified Canadian financial institutions with funding provided to them via the Canada Account, which is administered by Export Development Canada (EDC). For more detail on the CEBA program, including information on program activity to date, please visit https://ceba-cuec.ca/.

    

Canada Account transactions

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.

Date modified: 2024-06-28