Reporting on EDC Transactions
EDC recognizes that the disclosure of relevant information is a critical element in demonstrating accountability and public awareness of and confidence in how EDC fulfills its mandate. With this policy, EDC will disclose the following information:D1. Aggregate Quarterly Reporting
EDC reports aggregations of business volume for all of its insurance and financing activities by: Canadian industry sector; country or region in which business was concluded; Canadian region of exporter; and type of EDC product. This information is updated quarterly, no later than 60 days from each quarter's end.
D2. Individual Transaction Reporting
EDC reports individual transaction information on all financing (including guarantees), political risk insurance to lenders, and equity transactions. Transaction information is posted as soon as possible (normally within 90 days) after signing of the EDC transaction. The information here also includes transactions related to signed Category A and B projects and provides the environmental standards used to review those projects as well as the information reviewed.
D3. Environmental & Social Reporting
Where EDC is considering providing support, in the form of financing, political risk insurance to lenders or equity, to the sponsor of a project classified as a Category A under its Environmental Review Directive, EDC will seek consent from clients to inform the public via its web site that it is considering support to such project.
Canada Account
Canada Account is used to support export transactions which EDC is 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, which can include the size of the transaction, market risks, EDC's country capacity, borrower risks, and/or the financing conditions.
EDC Financing Exposure in Heavily Indebted Poor Countries (HIPC)
EDC reports the amounts owed by the Heavily Indebted Poor Countries (HIPCs) to which EDC/Canada has made loans, some or all of which may be forgiven in the future if these countries implement measures required to qualify for debt reduction
