Foreign Affairs committee  The governance will need to be defined as part of the corporate planning process. That said, we are talking about a new crown corporation, a wholly owned subsidiary of EDC, but a crown corporation in itself. As such, it will need to have its own board, a “fit for purpose” board.

Foreign Affairs committee  EDC would appoint the board given that it's a wholly owned subsidiary.

Foreign Affairs committee  That is something that will be set out in the parameters for designing this organization and conveyed to EDC in consideration—

Foreign Affairs committee  This is a commercial crown corporation, which means that it's an arm's-length entity. It's arm's length so that it can behave in an independent manner and have the credibility to engage with private sector entities without others perceiving a potential risk of interference. Tha

Foreign Affairs committee  No. Let me explain that. The process for ensuring alignment with a crown corporation involves three notable events in terms of governance. The first one is a statement of priorities and accountabilities. The Minister of International Trade upon consultation with the Minister of

Foreign Affairs committee  It's important to distill it down to its essence. In many respects, the private sector.... These are individuals. These are human beings. These are human beings who actually don't know a lot about these markets, so ignorance is a huge issue to overcome, on the one hand. On the ot

Foreign Affairs committee  Let me break that down into two: first, the Government of Canada community, if we can call it that, other government departments or agencies; and second, the issue of non-governmental organizations and civil society organizations. On the other government departments, the relatio

Foreign Affairs committee  That is a very good question. First, it will be up to the government to determine the main direction of the institute. As I mentioned earlier, we already know the priorities. They pertain to renewable energy, young entrepreneurs and women. We already know that the government is

Foreign Affairs committee  Inherent in your question is the focus on ODA. This is not ODA. This complements and is additional to ODA. What we're talking about is an initiative that will seek to partner up with the private sector and enable the private sector, in its pursuit of growing its businesses, to ha

Foreign Affairs committee  The international and Canadian experts with whom we have discussed the matter—some of whom you will also meet throughout your study—have said they will welcome the DFI that Canada is creating with open arms. They are ready for us and people are very excited about this project. Mo

Foreign Affairs committee  That will depend on the situation. We are not saying of course that this organization's mandate is to replace that of Global Affairs Canada. Global Affairs Canada will still be responsible for stabilizing areas in crisis or establishing the foundations for good institutional and

Foreign Affairs committee  The experience has demonstrated the wisdom of taking a portfolio approach. On the one hand, there's no doubt that these arm's-length organizations want to ensure their sustainability, but they also want to obviously pursue the policy objectives of their governments. Within that

Foreign Affairs committee  Absolutely.

Foreign Affairs committee  Absolutely. It depends on the project and the considerations around it. The management of that project, from the financial sustainability perspective of the organization, just needs to be balanced out with less riskier initiatives and projects.

Foreign Affairs committee  Neither. This capital will not come from the international assistance envelope or from the fiscal framework. This capital will come directly from the budget, that is, from EDC's capital.