(OTTAWA) – November 20, 2009 – Export Development Canada (EDC) today celebrated its 65th anniversary as Canada's official export credit agency (ECA).
Since first opening its doors 65 years ago on November 21, 1944, EDC has provided Canadian exporters with more than $833 billion in insurance, financing, and bonding products.
"Having spent thirty years at EDC myself, I have seen firsthand the evolution of Canada's trade and the resulting evolution of EDC, and the great things that it has done to help Canadian companies compete in the global marketplace, " said Eric Siegel, President and CEO.
From the $983 million that the Government invested in EDC in the form of share capital, EDC has grown the government's investment to its current value of just over $5 billion.
"Originally conceived as a small credit insurance program in 1944, EDC has responded to Canada's unique trade needs over its 65 years to become a full service corporation that offers everything an exporter could need," Mr. Siegel said.
"Today, Canada's current ECA model has become, by all accounts, the envy of almost every other nation on the globe, our relevance was never more apparent than through our ability to continue to provide strong support to Canadian exporters through the worst financial crisis of our generation," he added.
EDC is Canada's export credit agency, offering innovative commercial solutions to help Canadian exporters and investors expand their international business. EDC's knowledge and partnerships are used by more than 8,300 Canadian companies and their global customers in up to 200 markets worldwide each year. EDC is financially self-sustaining, a recognized leader in financial reporting and economic analysis, and has been named one of Canada's Top 100 Employers for nine consecutive years.
Phil Taylor
Export Development Canada
Tel: 613.598-2904
BlackBerry: ptaylor@edc.ca
