- Potential to partner with commercial banks in syndicated financing facilities for Asian companies to support their trade-focused businesses
- New branch office to support and augment current representations in Jakarta, Mumbai, Delhi, Beijing and Shanghai
SINGAPORE, March 24 (Bernama-BUSINESS WIRE) -- Export Development Canada (EDC), Canada’s dynamic export credit agency, today announced its new and first global branch outside of Canada, in Singapore.
EDC’s new branch will bring its global-scale financing business closer to projects and companies across Asia, ASEAN, and Oceania by negotiating and underwriting its financing from Singapore.
The new Singapore branch is expected to play an important role in doubling EDC’s loan bookings by 2021, when it hopes to be providing over USD 4 billion in new commercial financing annually. EDC’s focus will be developing financing relationships with corporations and project owners across the region that may already have Canadian suppliers, or where there is potential for future Canadian supply. EDC can also support Canadian foreign investment and foreign investment into Canada where there is a direct link to Canadian exports.
In addition, EDC will actively pursue opportunities to partner with commercial banks within club and syndicated financing facilities of select corporations across Asia and Oceania. The ASEAN market is of particular interest for EDC’s Singapore branch, with its fast growing economies and more than 625 million people.
“ASEAN is a dynamic region that is growing at a phenomenal rate, and growing ASEAN companies need capital to support their growth aspirations and trade focused business,” said Bill Brown, Regional Vice-President, Asia, EDC. “EDC offers Asian corporations a stable, global-scale financier with a long-term partnership horizon. Not only do we provide financing, but we can help your company reduce costs, be more productive, and more innovative by introducing Canadian technology and expertise.”
EDC’s new branch will bring its global-scale financing business closer to projects and companies across Asia, ASEAN, and Oceania by negotiating and underwriting its financing from Singapore.
The new Singapore branch is expected to play an important role in doubling EDC’s loan bookings by 2021, when it hopes to be providing over USD 4 billion in new commercial financing annually. EDC’s focus will be developing financing relationships with corporations and project owners across the region that may already have Canadian suppliers, or where there is potential for future Canadian supply. EDC can also support Canadian foreign investment and foreign investment into Canada where there is a direct link to Canadian exports.
In addition, EDC will actively pursue opportunities to partner with commercial banks within club and syndicated financing facilities of select corporations across Asia and Oceania. The ASEAN market is of particular interest for EDC’s Singapore branch, with its fast growing economies and more than 625 million people.
“ASEAN is a dynamic region that is growing at a phenomenal rate, and growing ASEAN companies need capital to support their growth aspirations and trade focused business,” said Bill Brown, Regional Vice-President, Asia, EDC. “EDC offers Asian corporations a stable, global-scale financier with a long-term partnership horizon. Not only do we provide financing, but we can help your company reduce costs, be more productive, and more innovative by introducing Canadian technology and expertise.”
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