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EDC to help Tatas increase biz with Canadian firms

By Niranjan Mudholkar,

Added 05 November 2015

Will provide up to $500 million every year in financing for Tata companies.

The financing agreement was signed by Madhu Kannan, member, Group Executive Council, Tata Sons, and Benoit Daignault, president and CEO of EDC.

Commenting on the agreement, Kannan said, "The Tata group has had a long standing and successful presence in Canada. EDC continues to be a very important partner for us and we are delighted to enter into this funding arrangement with them which would facilitate the expansion plans of Tata companies."

"The Tata group is a critical organisation within a key market for Canada and India, and the financing is a reflection of Tata's importance to Canadian exporters," said Daignault. "Equally important is Canada's importance to Tata, with EDC's financing helping them deepen their roots here at home and create new opportunities for Canadian companies," he added.

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