Mr. Chair, after conducting an in-depth analysis of the situation concerning the development finance institute, the DFI, we concluded that it would be best to establish DFI as a subsidiary of Export Development Canada in the interest of effectiveness and efficiency, given that EDC has expertise that we can leverage.
This Export Development Canada subsidiary will have its own board of directors and its own CEO, guided by a mandate focused on development. We know that Export Development Canada legally reports to the Minister of International Trade, but we work together and are complementary. I can guarantee that DFI's mandate is truly to ensure positive outcomes in development with private investment.