December 2, 1996 No. 228

EGGLETON LAUNCHES INTERNATIONAL FINANCIAL INSTITUTIONS/CAPITAL PROJECTS INFORMATION SYSTEM

The Honourable Art Eggleton, Minister for International Trade, today launched the International Financial Institutions (IFI)/Capital Projects Information System developed by the Department of Foreign Affairs and International Trade.

Projects financed by the multilateral development banks represent significant opportunities for Canadian businesses. Canadian companies are eligible to bid on over $12 billion worth of contracts open to foreign suppliers annually. The IFI/Capital Projects Information System will provide Canadian exporters with timely and accurate information on these opportunities and improve their chances of success.

"The IFI/Capital Projects Information System is making it easier for Canadian companies to tap into these lucrative IFI-funded projects in the international marketplace," said Mr. Eggleton. "This new information system is a true reflection of the Team Canada partnership between governments and the private sector."

"With 40 per cent of our GDP and one in three jobs dependent on international trade, it is clear that exports are critical to our economy. Canadian companies' successes abroad translate into more jobs and increased economic growth for all Canadians," said Mr. Eggleton.

The IFI/Capital Projects Information System is a tangible response to the recommendations of an Interdepartmental Task Force on International Financial Institutions Procurement. These recommendations called for the development of a mechanism to help Canadian businesses compete for IFI-financed projects.

The system captures, integrates and disseminates IFI project information. Contact information is available on agencies implementing projects in borrowing countries. Key contacts in Canadian missions and IFI field offices abroad are also available.

The system currently provides access to project information from the following institutions:

the World Bank;

the Inter-American Development Bank;

the African Development Bank;

the International Finance Corporation;

the United Nations Development Program; and

the Asian Development Bank

Canadian companies may obtain more information on the IFI Capital Projects Information System by contacting the Department of Foreign Affairs and International Trade's Internet site at http://www.dfait-maeci.gc.ca under the international business development category.

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For further Information, media representatives may contact:

Nicole Bourget

Director of Communications

Office of the Minister for International Trade

(613) 996-6271

Media Relations Office

Department of Foreign Affairs and International Trade

(613) 995-1874

This document is also available on the Department's Internet site: http:///www.dfait-maeci.gc.ca