The Review will focus on nine themes.
Theme 1: EDC's complementary role with the domestic private sector
This theme looks at the extent to which EDC’s lines of business are in any way hindering or “crowding out” the activities of private market sources of insurance, guarantees, bonding, lending and equity or if, in fact, EDC is seen to be actively catalyzing the private market.
Theme 2: EDC's place within government
This theme looks at how EDC supports the government’s overall policy objectives and how it balances its commercial orientation with its public policy mandate, as well as its role vis-à-vis other federal partners.
Theme 3: Meeting Canada’s evolving business needs
This theme speaks to EDC’s current business strategy and objectives to anticipate and respond to the needs of Canadian companies, including female, indigenous, youth and other exporters, to support and accelerate their international growth. It also looks at whether the legislative, regulatory and policy framework in which EDC operates provides sufficient flexibility to support current and anticipated future needs of Canadian international business.
Theme 4: Role of EDC in the changing global context
This theme covers EDC’s role in supporting and developing Canada’s export trade and Canadian capacity to engage in that trade and to respond to international business opportunities and global challenges. It looks at the changing global economy, noting developments since the 2008 legislative review, and identifies the competitive challenges faced by Canadian exporting firms operating in this environment, focusing on the role of financial intermediation in international commerce.
Theme 5: Corporate Social Responsibility and Human Rights
This theme will examine how EDC is fulfilling its mandate in a manner that reflects the Government of Canada’s expectations that Canadian businesses respect all applicable laws and international standards to operate transparently and in consultation with host governments and locals communities, and to conduct their activities in a socially and environmentally responsible manner. The theme will also look at how EDC takes into account the impact, both environmental and social (including human rights), of the businesses and transactions it supports.
Theme 6: Comparison of the capacity of the Canadian trade financing system to the systems of OECD and non-OECD countries
In most countries where Canadian companies face competition, governments and their export credit agencies also have programs to support their national companies to pursue international opportunities. A critical aim is to safeguard the competitiveness of these national companies and industries vis-à-vis foreign competitors. This theme looks at how the Canadian trade financing system has evolved since the last legislative review in 2008 and whether, as a whole, it remains competitive vis-à-vis other countries’ systems.
Theme 7: Domestic powers regulations review
Domestic powers regulations were put in place temporarily in 2009, made permanent in 2014, and finalized in 2018, which specify the circumstances in which EDC can provide support for purely domestic transactions. This theme looks at how these regulations are applied in practice and to what extent they enable EDC to fill genuine, well-defined market gaps in domestic insurance and bonding requirements of exporters and other private-sector companies.
Theme 8: Governance of the Canada Account
The Canada Account provides support for transactions considered to be in the national interest but that would not be acceptable for EDC’s Corporate Account due to the size or risk associated with the transaction. This theme examines the framework and reporting on the use of the Canada Account to determine whether the framework is adequate and appropriate.
Theme 9: Development Finance Institution
In January 2018, Canada launched Development Finance Institution Canada Inc. (FinDev) as a wholly owned subsidiary of EDC dedicated to promoting inclusive private-sector growth and sustainability in developing markets. The newly created subsidiary complements Canada’s existing trade and development instrument portfolio. This theme will focus on areas and aspects that may have implications for EDC’s mandate and operations as is the case with the delivery of shared corporate functions and EDC’s business development support.