Mr. Speaker, with regard to (a), since 2006, there has been one entity in receipt of CIDA funding while being under legal protection from creditors; however, this entity continues to meet its contractual obligations and is delivering results through its programming.
With regard to (b), while there are no specific policies that address cases where the entities are under legal protection from creditors, there are procedures in place to mitigate the risk of such instances.
The financial risk assessment unit uses a risk-based approach to monitor the financial viability of entities in receipt of CIDA funding prior to entering into an agreement and during the life cycle of the CIDA project. Mitigation actions are immediately put in place if a recipient is under legal protection from creditors.
Standard agreements include provisions that allow CIDA to ensure entities are performing their obligations.