Thank you, Chair.
There is no need for a statutory requirement to have such frequent reviews, given existing accountability mechanisms in place through the Export Development Act. The act already includes a section instructing the minister responsible for EDC to review, in consultation with the minister of finance, the provisions and operation of the act, including proposed paragraph 10(1)(c) should it come into force, every 10 years.
The next legislative review of the Export Development Act is scheduled for 2018, and would thus be expected to cover the operationalization of EDC's development finance initiative, should it come into force.
In addition to this formal statutory obligation, the government will monitor EDC's development financing activities and provide clear direction on Canada's international development priorities through the existing crown corporation's corporate planning process. Under this process, EDC is obligated to publish a summary of its corporate plan and an annual report on its activities.