Mr. Speaker, the Minister for International Trade said that EDC does not give grants, but we know it gives interest-free loans for up to 55 years. They are not payable for that time.
Public accounts show that the Export Development Corporation has lent Venezuela $24 million. Venezuela is one of the original members of OPEC, the international oil cartel which is responsible for the high gas prices that Canadians pay currently at the pumps.
Why does EDC feel it is necessary to lend money to a country whose policies are distorting international oil prices and which are directly hitting Canadians in their wallets every time—