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Canada moves to merge BDC and EDC into one development bank

1 reports1 report sources51 minutes agoUpdate

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Canada's federal budget launches a transition process to merge the Business Development Bank of Canada (BDC) and Export Development Canada (EDC) into a single federal development bank of about 5,000 employees, BetaKit reports. Both lenders will keep operating under their existing mandates, and existing products and services will be fully maintained during the transition. A specially constituted board will oversee the transition, and the government must settle a plan before amending the BDC Act and the Export Canada Act.

AI-generated from reports · 40 minutes agoUpdate

Latest updatesNov 7 05:39
Canada plans to merge BDC and EDC into one federal development bank

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Nov 7
  1. BetaKit
    Canada plans to merge BDC and EDC into one federal development bank

    Canada's federal budget launches a transition process to merge the Business Development Bank of Canada and Export Development Canada into a single development bank with about 5.

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