Industry committee  The data I mentioned apply to 2009. The $16 billion that benefitted the forest industry was allocated to 538 companies, including $11.9 billion to 223 Quebec companies.

Industry committee  Yes, the $16 billion in assistance relates to the products we offer. It includes receivables insurance, bonding and financing. Most of the $16 billion will be allocated in the form of receivables insurance. I don't have the specific details about the markets involved, but in general terms, the most significant one is certainly the US market.

Industry committee  I can tell you that in August, support amounted to approximately $8.6 billion. Thus far, 456 businesses have benefitted from that support. We are a little ahead when compared to last year at the same date, in terms of our results. I can tell you that not only is the trend continuing, it is on the rise, in terms of our support.

Industry committee  Yes, I do. Out of the $16 billion that we supported in 2009, $11.9 billion was for the province of Quebec, and that was given to 223 individual companies.

Industry committee  I will talk perhaps in general terms for the three markets. As I mentioned in my presentation, we have been making efforts to bring some international buyers to Canada to expose them to some of our Canadian capabilities in the forestry sector. What we will do in this regard, and what we have done, is to source some key international buyers who would be interested in our forestry companies as a result of what we do and the efforts we're able to bring to the table.

Industry committee  Yes, it has to pay back the loan; it is a bank loan.

Industry committee  Because this is done in partnership with a bank, if there are fees to structure the loan, those fees are payable to the financial institution.

Industry committee  Yes, exactly.

Industry committee  It's important to bear in mind that, depending on the industry and the standards that apply, a guarantee can be structured in many different ways. As a Crown corporation, we often provide guarantees in cooperation with the bank. If the loan is for $5 million, for instance, we may offer a percentage of that loan in the form of a guarantee, which then means the company has access to better or additional working capital.

Industry committee  Thank you for your question, Ms. Hughes. It's important to point out that Export Development Canada's role when it comes to innovation will depend on the way we are able to serve forest industry exporters. There are a variety of products, including insurance, bonds and financing.

Industry committee  In terms of the rates we can offer, we did point out that we are unable to provide subsidies. Furthermore, we cannot take any actions that could be interpreted as enabling a lower market rate. Therefore, if several banks are participating in a funding arrangement, EDC cannot offer a lower rate than the current market rate.

Industry committee  It depends on the industry and the structure of the financing that is requested. Depending on what we are presented with, we might do the same thing the financial institutions would. We will look for the best commercial rate that can be provided for that type of structure, basing ourselves on what the company is looking for.

Industry committee  Thank you for your question. Once the government has decided where and how it wants to help, our role is to be at the table with these companies and help them with insurance, bonding and funding, in accordance with commercial standards. We will have to look at how we can help them.

Industry committee  Thank you. I would like to thank you, Mr. Chairman, and member of the committee, for giving us this opportunity to address the committee today. Given the current challenges posed by the economic conditions, your study could not come at a better time. It is of critical importance.