(July 20, 2005) Skeletons are tumbling out from the Left Democratic Front (LDF) cupboard in the form of controversial deal for power projects between Kerala State Electricity Board (KSEB) and a Canadian firm during the previous LDF rule.
(July 10, 2005) A report by the Comptroller and Auditor General of India has noted that "there was serious deviation from prescribed procedures in the award of contract to SNC Lavalin".
PRESS RELEASE Export Development Canada keeps taxpayers in the dark, says Rosen and Associates Limited
(June 14, 2005) A report by one of Canada’s leading forensic accounting firms, Toronto-based Rosen and Associates, criticizes the 2003 annual report of Export Development Canada for not differentiating between commercial and politically-mandated activities. EDC is a crown corporation that in 2003 backstopped $51.9 billion in exports and international investments by Canadian enterprises. The Rosen and Associates study focused on the financial reporting relating to EDC’s loan portfolio.
(March 1, 2005) Former EDC head launches suit.
(August 7, 2004) Subsidiary of troubled U.S. airline to use federal funds to buy regional jets.
(July 23, 2004) The World Bank has sanctioned Acres International Limited (Acres), a Canadian company, as a result of corrupt activities related to its Bank-financed contract associated with the Lesotho Highlands Water Project.
(June 26, 2004) Endesa, Chile’s largest utility, announces plans to build five hydro-electric power stations in the next fifteen years for a total of $2.8 billion.
(December 15, 2003) The Canadian Crown corporation says it is satisfied with safeguards in place, but a new report indicates it shouldn’t be.
(November 5, 2003) EDC will not bar Canadian company Acres International, recently convicted of corruption charges in the Lesotho Highlands Water project, from future contracts.
(October 31, 2003) Measures and safeguards, as well as EDC’s normal business considerations and application of its Anti-Corruption Program, help to ensure that future business for which Acres might seek our support is not tainted by corruption.
(August 21, 2003) EDC needs be proactive in weeding out bribe-givers from its list of clients.
(February 1, 2003) Is EDC making the world a worse place? There’s no way for ordinary Canadians to make an informed judgment because the Crown corporation simply doesn’t reveal enough information.
(January 9, 2003) We don’t hear much about the Canada Account . . .Why? Because the mandate of the Canada Account is to take up loans, or loan guarantees, that fail to meet Export Development Canada’s own risk tolerance test.
(October 25, 2002) The National Post writes: Export Development Canada has hung like an albatross around the neck of the Canadian taxpayer for far too long. It must stop making new loans, wind down its operations and then shutter itself for good.
(October 21, 2002) Recent articles ignore EDC’s financial performance, ability to manage risks, fact that EDC is fully accountable to Parliament, EDC’s track record of consistent profitability, and contribution to Canada’s economy, writes EDC CEO Ian Gillespie.