EDC

NGO group slams export agency’s ‘reckless lending’

The Ottawa Citizen
May 15, 2001

The Export Development Corporation is still assisting environmentally and socially disastrous projects around the world even after a framework review was introduced, says a new report by the NGO Working Group on the EDC.

 

(Excerpt)

The group published its 30-page document, called Reckless Lending, Volume II, yesterday, on the eve of the release of the auditor general’s report on the EDC’s environmental framework review.

“Our report demonstrates that not only is some of the EDC’s loans damaging to the environment, but that their environmental framework has neither reduced nor eliminated such an impact,” said Emilie Revil, spokesperson for the group.

The EDC is not covered by the Freedom of Information Act and has been sharply criticized for keeping billions of dollars in loans secret. The corporation, which offers loans, insurance, advice and other services to Canadian exporters and their clients, is undergoing legislative review this spring.

Categories: EDC, Export Credit, News

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