Ottawa orders Export Development Canada to examine lending practices

(Globe and Mail, Toronto, 26 September 2018) Ottawa has ordered the nation’s export credit agency to consider more carefully the human-rights implications of loans and insurance it offers in support of Canadian businesses. A Sept. 24 letter from International Trade Diversification Minister Jim Carr to Martine Irman, chair of Export Development Canada’s board of directors, urged the Crown corporation to ensure its internal procedures accord with Canada’s obligations under international humanitarian law. Human-rights and environmental-advocacy groups have criticized EDC for decades over what they say is a pattern of giving financial assistance to companies involved in harmful projects overseas. “The agency is essentially self-governing in the areas like environment, human rights and anti-corruption,” Karyn Keenan, director at ECA-Watch member Above Ground. Above Ground's submission to EDC on strengthening environmental and human rights protection can be found here and their recommendations on bringing EDC’s climate change policy in line with Canada’s commitments can be found here.