The Export Development Corporation (EDC). The corrupt ways the Crown Corporation is run and how it brings tragic results to third world countries.
Date Submitted: 07/11/2004 18:28:35
Category: / Social Sciences / Controversial Issues
Length: 11 pages (2986 words)
Category: / Social Sciences / Controversial Issues
Length: 11 pages (2986 words)
The Export Development Corporation (EDC) is a Crown corporation established in 1944 through the Export Development Act. The EDC assists Canadian development projects in third world countries through the provision of financial services. It guarantees loans and issues insurance to Canadian companies when no one else will invest in their economically risky projects. As a result the EDC makes these uneconomic investments proceed. Since the EDC is exempted from the Access to Information Act, its activities …
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…and Canada should follow their example. By doing this it will protect the global environment, encourage a healthy Canadian and global economy and allow democracy to flourish throughout the Third World. The way that the Export Development Corporation is acting has to be put to an end. It is unacceptable in today's society to have such a corporation to be creating devastation around the world. The Export Development Corporation must be put to a stop.
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