(March 23, 2000) When first challenged over the Export Development Corporation, Pierre Pettigrew asserted that it made commercially sound loans. This wasn’t very plausible, since the EDC exists precisely to make loans that commercial institutions won’t.
(March 23, 2000) International Trade Minister Pierre Pettigrew’s glowing presentation in the House of Commons this week of large profits at the Export Development Corporation — and a 50-year total of "only $1 billion" in federal grants to the trade agency — is undermined by the Chretien government’s quiet write-off of $800 million in bad EDC loans since 1992.
(March 22, 2000) The Export Development Corporation has shelled out more than $685 million in long-term, interest-free loans that are not repayable for up to 55 years to developing countries such as China, Pakistan and Gabon.
(March 21, 2000) For 50 years the federal Crown export credit agency, the Export Development Corporation, has financed and insured the world’s most environmentally damaging and economically reckless projects, from the Three Gorges dam on China’s Yangtze River to the gold mines in South America and the former Soviet Union that spill cyanide into major waterways.
(March 21, 2000) The "cloud of secrecy" that surrounds the Export Development Corp., a federal Crown corporation that is exempt from access to information laws, is covering up $2.8 billion in bad loans, opposition MPs charged yesterday.
(March 21, 2000) For some years now, economists have understood that even where private markets do not function perfectly, government should not intervene unless a rational case can be made that it will do things better.
(March 21, 2000) An esteemed Canadian economist has called for a royal commission to probe endemic secrecy within the taxpayer-backed Export Development Corp.
(March 20, 2000) Export Development Corp.’s secret $1-billion deal with U.S. giant called ‘blatant discrimination against Canadians’.
(March 19, 2000) Crown agency spends billions secretly backing environmentally destructive projects others won’t touch Export Development Corp. ‘will do anything,’ critic says; EDC VP insists agency ‘routinely’ turns down projects that are environmentally ‘risky’.
(March 19, 2000) The Three Gorges Dam mega-project has been plagued by economic environmental, and political problems — but the money from Canada just keeps flooding in. Jack Aubry reports.
(March 18, 2000) Why Chretien confidant Pat Lavelle owes his career to the prime minister; Export Development Corporation chairman used to oppose free trade.
(March 18, 2000) $2.8 billion in bad debts is almost 3 times amount of Shovelgate grants; Even Canada’s auditor general doesn’t know who owes what.
(March 18, 2000) How Canada’s hidden loan to Amtrak sealed deal for Quebec firm; Export Development Corp. bailed out U.S. giant while Liberals slashed VIA Rail funding.
(February 1, 2000) In the last remaining tropical rainforest of Colombia’s Caribbean coast, the Embera Katio indigenous people are fighting for their survival and for compensation for the destruction of their rainforest. The Urrá dam, built in part with financing from Canada’s Export Development Corporation, is the cause of their woes.
(November 18, 1999) In 1993, the federal government greatly expanded the powers of the Export Development Corp. by allowing it to move into the private sector’s turf and finance Canadian firms’ activity in Canada. As a sop to the banking and insurance industries, which cried foul upon learning that they would soon face unfair competition from this Crown corporation, the government promised to review the new EDC legislation five years hence. That review, conducted by the law firm of Gowling Strathy & Henderson and now before the standing committee on foreign affairs and international trade, fails utterly to address EDC’s fundamental problems.