Trudeau Liberals’ agency approves $3 billion in loans to China

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Export Development Canada, a federal bank, approved more than $3 billion worth of loans and insurance to Chinese companies, Blacklock’s Reporter reveals. Data obtained through an Access to Information Act request revealed that the bank provided $3,209,673,392 in loan guarantees and various forms of insurance in 2020, one year after the bank adopted a policy ensuring that the organization aligns “with the United Nations Guiding Principles On Business And Human Rights and provides essential clarity to our customers and partners on where we stand on human rights.” “When we work with them to understand their financing needs, we’re also working to ensure they understand issues like human rights,” said Mairead Lavery, the CEO of the crown corporation. Lavery clarified that the bank “operates on a commercial terms,” and does “not provide grants or subsidies. At the heart of our business is risk management.”

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