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Public Accounts committee If I may answer your question a little bit differently, this was with respect to the loan accounting system. There was a market scan done as to the providers that could accommodate the request and support such a system—support this number of loan-holders, should it be required, t
February 29th, 2024Committee meeting
Mairead Lavery
Public Accounts committee I don't feel equipped to answer that on behalf of all Canadian companies with respect to government contracts.
February 29th, 2024Committee meeting
Mairead Lavery
Public Accounts committee We support approximately 400. It's been incrementally growing each year, so I'll say it's in the 400 range. The primary contributor is renewable energy. There's a lot of renewable energy in the numbers you quoted for our businesses, which were facilitated with over $12 billion. H
February 29th, 2024Committee meeting
Mairead Lavery
Public Accounts committee We were the first export credit agency, and, indeed, at COP28 last year, we also signed up to be a founding member of the Net-Zero Export Credit Agencies Alliance under the banner of GFANZ, so we are participating in that as well. With our plans, we have been working on this si
February 29th, 2024Committee meeting
Mairead Lavery
February 29th, 2024Committee meeting
Mairead Lavery
Public Accounts committee At the time—this was in April 2020—we were asked to administer the program and get it up and running as quickly as possible to support the companies that needed the facilities. That's when we sole-sourced it. We had an arrangement with Accenture, which was supporting EDC for othe
February 29th, 2024Committee meeting
Mairead Lavery
Public Accounts committee The CEBA program for EDC was a directive, and then it was under ministerial authorization.
February 29th, 2024Committee meeting
Mairead Lavery
Public Accounts committee It wasn't a subcontract, given that it is a subsidiary of Accenture. This is with respect to the loan accounting system, which will be able to facilitate the collection and repayment of CEBA amounts from the loan-holders.
February 29th, 2024Committee meeting
Mairead Lavery
Public Accounts committee We can, because that was tracked daily at the time.
February 29th, 2024Committee meeting
Mairead Lavery
Public Accounts committee Mr. Chair, I can [Inaudible—Editor].
February 29th, 2024Committee meeting
Mairead Lavery
Public Accounts committee Today, we are officially in receipt of $26.1 billion of funds with respect to CEBA. That equates to $6.5 billion of forgiveness in the CEBA program. Of course, the period during which companies can still work with their banks to perhaps refinance the loan has not expired yet. T
February 29th, 2024Committee meeting
Mairead Lavery
Public Accounts committee Yes. The deadline was January 18 this year. We do not have the official data from the banks, but in the range of 75% to 80% have repaid and taken advantage of the forgiveness.
February 29th, 2024Committee meeting
Mairead Lavery
Public Accounts committee That is correct.
February 29th, 2024Committee meeting
Mairead Lavery
Public Accounts committee It was.
February 29th, 2024Committee meeting
Mairead Lavery
Public Accounts committee There were different components to the contract, which I guess no one anticipated at the start. Once we started with them, it was imperative to continue with them because the program had to stay operational for the participants. I would say that over time, with a profile of thre
February 29th, 2024Committee meeting
Mairead Lavery