The largest gathering of the European Canadian business community in Montreal!
October 26, 2010; 2:00 – 7:30 p.m., Palais des congrès de Montréal
Eight European Chambers of Commerce, Consulates and Trade Commissions in Montreal are organizing the 9th Carrefour Europe 2010. You will have the opportunity to meet members and contacts of the Montreal European Chambers of Commerce and Trade Commissions in Montreal from Belgium, France, Germany, Hungary, Ireland, Italy, Poland, and Switzerland.
2 workshops will provide you with hands-on information on doing business with Europe:• Workshop I: Doing Business in Europe - How to Export and Invest in Europe.
• Workshop II: How to Prepare and Finance Your Exports to Europe?
For complete details consult: http://www.carrefour-europe.org or contact Ms. Anna-Lena Gruenagel at (514) 844-3051 or consulting.montreal@germanchamber.ca
Showing posts with label Export Financing. Show all posts
Showing posts with label Export Financing. Show all posts
Sunday, October 24, 2010
Monday, April 20, 2009
Canada Offers New Support to the Inter-American Development Bank
(The Prime Minister’s Office)
This year’s Summit of the Americas takes place in the context of the worst global economic crisis in generations. While the crisis began in developed countries, its effects are hitting emerging and developing economies with increasing severity. Canada’s focus for the Summit is encouraging free trade and discouraging other countries from moving back to protectionist measures.
With the attention of the region on the economic situation, the Summit is an opportunity to connect Canada’s strengths and effective response to the crisis to the circumstances and needs of regional partners while building on the outcomes of the London G20 Summit. Canada is working towards recovery in its own economy and providing leadership internationally:
• Canada’s strong stance against protectionism and in favour of further liberalization is opening new markets for our partners in the hemisphere
• Fixing the financial system is essential to restoring credit and investment flows to emerging economies
• Canada’s banks are solid thanks to our sound approach to financial sector planning
• Accelerated, effective fiscal stimulus contributes to global demand and recovery
• Canada is making a substantial contribution to strengthening the resources of the international financial institutions, especially the IMF and the IFC global trade facility.
It is with this in mind that Prime Minister Stephen Harper announced today [Saturday] that Canada will work to temporarily increase the Inter-American Development Bank’s (IDB) lending capacity in response to the financial crisis. Today’s announcement responds to the urgent capital needs identified by the IDB as essential to an effective response to the effects of the economic crisis in the Americas.
“Canada is the only country taking a leadership role in responding to a critical need in such an innovative way,” said the Prime Minister. “This has not been done before and is a very significant contribution.”
This timely increase in support to the IDB will provide countries in the region with greater access to credit to promote economic growth, an essential element of economic recovery. It will double temporarily Canada’s lending capital at the IDB.
The IDB is a valued regional institution in which Canada plays an active role. The Bank is the main source of multilateral funding for economic, social and institutional development in Latin America and the Caribbean, and Canada is a non-borrowing regional member. Canada joined the Bank in 1972. The IDB is the oldest and largest regional development bank in Latin America and the Caribbean. Canada will host the annual meeting of IDB Governors in 2011.
For more information on Canada’s partnership with the IDB can be found here.
This year’s Summit of the Americas takes place in the context of the worst global economic crisis in generations. While the crisis began in developed countries, its effects are hitting emerging and developing economies with increasing severity. Canada’s focus for the Summit is encouraging free trade and discouraging other countries from moving back to protectionist measures.
With the attention of the region on the economic situation, the Summit is an opportunity to connect Canada’s strengths and effective response to the crisis to the circumstances and needs of regional partners while building on the outcomes of the London G20 Summit. Canada is working towards recovery in its own economy and providing leadership internationally:
• Canada’s strong stance against protectionism and in favour of further liberalization is opening new markets for our partners in the hemisphere
• Fixing the financial system is essential to restoring credit and investment flows to emerging economies
• Canada’s banks are solid thanks to our sound approach to financial sector planning
• Accelerated, effective fiscal stimulus contributes to global demand and recovery
• Canada is making a substantial contribution to strengthening the resources of the international financial institutions, especially the IMF and the IFC global trade facility.
It is with this in mind that Prime Minister Stephen Harper announced today [Saturday] that Canada will work to temporarily increase the Inter-American Development Bank’s (IDB) lending capacity in response to the financial crisis. Today’s announcement responds to the urgent capital needs identified by the IDB as essential to an effective response to the effects of the economic crisis in the Americas.
“Canada is the only country taking a leadership role in responding to a critical need in such an innovative way,” said the Prime Minister. “This has not been done before and is a very significant contribution.”
This timely increase in support to the IDB will provide countries in the region with greater access to credit to promote economic growth, an essential element of economic recovery. It will double temporarily Canada’s lending capital at the IDB.
The IDB is a valued regional institution in which Canada plays an active role. The Bank is the main source of multilateral funding for economic, social and institutional development in Latin America and the Caribbean, and Canada is a non-borrowing regional member. Canada joined the Bank in 1972. The IDB is the oldest and largest regional development bank in Latin America and the Caribbean. Canada will host the annual meeting of IDB Governors in 2011.
For more information on Canada’s partnership with the IDB can be found here.
Friday, June 20, 2008
EDC Improves Export Financing Guarantees For Small Business
(Export Development Canada)
Export Development Canada (EDC) has introduced enhancements to its Export Guarantee Program aimed at further encouraging financial institutions to advance loans to small- and medium-size enterprises (SMEs) in Canada. These program changes will help SMEs access financing from their financial institutions in support of Canadian exports and foreign investments.
“We have been working closely with our partners in the Canadian banking sector to revise the Export Guarantee Program to ensure that it continues to meet the evolving needs of both SMEs and the banks,” said Eric Siegel, President and CEO of EDC. “These improvements should increase access to trade-related financing for more companies and should be of help to Canada’s manufacturers, particularly those in the automotive sector.”
A number of changes have been made to facilitate the ease of use of the program by financial institutions. As highlighted in the Government’s 2008 federal budget, a key change to the program is the availability of more coverage to financial institutions from EDC for guarantees valued at $500,000 or less. EDC has increased coverage for these transactions from 75% to up to 90%. For guarantees valued between $500,000 and $10 million, EDC has increased the availability of coverage to up to 75% for all transactions, where previously coverage was limited to 50% for certain types of transactions.
Canadian Direct Investment Abroad (CDIA) is important to Canada’s capacity to trade, yet presents greater risks. Recognizing this, EDC will now consider providing up to 100% coverage for CDIA-related qualifying facilities as part of a larger package of bank credit provided to a company to support foreign investments.
The enhanced program also has more flexibility to accommodate a broader range of client needs such as: financing support for single and multiple export contracts; financing of work in progress and the purchase of equipment related to exports; margining of foreign-domiciled inventory; margining of receivables created under the federal Scientific Research and Experimental Development (SR&ED) tax program; and, the margining of foreign accounts receivables.
Since 2003, the Export Guarantee Program has quadrupled in size in terms of companies served. In 2007, approximately 200 SME companies were served and guarantee coverage valued at over $230 million was provided in partnership with Canadian financial institutions. More than 30 financial institutions have taken advantage of the program to help meet the needs of their clients.
Export Development Canada (EDC) has introduced enhancements to its Export Guarantee Program aimed at further encouraging financial institutions to advance loans to small- and medium-size enterprises (SMEs) in Canada. These program changes will help SMEs access financing from their financial institutions in support of Canadian exports and foreign investments.
“We have been working closely with our partners in the Canadian banking sector to revise the Export Guarantee Program to ensure that it continues to meet the evolving needs of both SMEs and the banks,” said Eric Siegel, President and CEO of EDC. “These improvements should increase access to trade-related financing for more companies and should be of help to Canada’s manufacturers, particularly those in the automotive sector.”
A number of changes have been made to facilitate the ease of use of the program by financial institutions. As highlighted in the Government’s 2008 federal budget, a key change to the program is the availability of more coverage to financial institutions from EDC for guarantees valued at $500,000 or less. EDC has increased coverage for these transactions from 75% to up to 90%. For guarantees valued between $500,000 and $10 million, EDC has increased the availability of coverage to up to 75% for all transactions, where previously coverage was limited to 50% for certain types of transactions.
Canadian Direct Investment Abroad (CDIA) is important to Canada’s capacity to trade, yet presents greater risks. Recognizing this, EDC will now consider providing up to 100% coverage for CDIA-related qualifying facilities as part of a larger package of bank credit provided to a company to support foreign investments.
The enhanced program also has more flexibility to accommodate a broader range of client needs such as: financing support for single and multiple export contracts; financing of work in progress and the purchase of equipment related to exports; margining of foreign-domiciled inventory; margining of receivables created under the federal Scientific Research and Experimental Development (SR&ED) tax program; and, the margining of foreign accounts receivables.
Since 2003, the Export Guarantee Program has quadrupled in size in terms of companies served. In 2007, approximately 200 SME companies were served and guarantee coverage valued at over $230 million was provided in partnership with Canadian financial institutions. More than 30 financial institutions have taken advantage of the program to help meet the needs of their clients.
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