Language selection


Minister of Small Business, Export Promotion and International Trade appearance before the Special Committee on the COVID-19 Pandemic


Support for Canadian Forestry Sector


A Quebec MP is raising concerns that EDC is contributing to the financing of the Coasstal Gaslink project in the absence of support for the forestry sector.

Responsive Lines

(» indicates updated line)

Releasable Background

On May 13, 2020, Le Quotidien (Saguenay, Qc) published an article quoting the reaction of the local MP (Mario Simard - BQ) related to the decision by EDC to provide a loan to TC Energy toward the financing of the construction of the Coastal Gaslink project in British Columbia. Other financial institutions are contributing to this project. The EDC loan is within the $200 million - $500 million range (For confidentiality reasons, EDC is not able disclose the exact amount of the loan).

The Government has implemented a number of support programs available to companies in all industrial sectors, including the forestry sector. Since the outbreak of the Covid -19, EDC and BDC have been collaborating with financial institutions on the Canadian Emergency Business Account and have provided loans and guarantees to affected companies to help them surmount liquidity shortages and maintain operations. EDC has also established a program adapted to mid-sized enterprises and on May 11, 2020, the Government announced the Large Employer Emergency Financing Facility making bridge loans available to larger companies. The Government has also announced a wage subsidy program which will allow employers to maintain employment during the crisis. All these programs are available to enterprises in the forestry sector.

Canada allocated in Budget 2019 an additional $251.3 million over three years to some existing support programs for the forestry sector that were funded by the $867 million Softwood Lumber Action Plan in June 2017.

Date Modified: