Revised July 2009

Financial crisis a boon for ECAs
While hefty public bailouts of the financial and auto industries have stimulated debate on the role of governments in commercial markets, one form of government subsidy has flown beneath the proverbial radar: export credit. Confronted by an increasingly dire financial crisis, Western governments are using their export credit agencies (ECAs) to boost liquidity and rescue faltering industries. At an extraordinary World Trade Organization meeting last month, participating governments reported a 30% increase in ECA business over the previous 12 months. The WTO called for even greater reliance on public credit to lessen the burden on commercial banks. Shortly afterwards, the OECD announced an agreement with non-members, including Russia and Brazil, to provide markets with publicly-sourced export credit.

November 8, 2005

Terrie O’Leary
Executive Director for Canada
World Bank
1818 H Street
Washington D.C.

12 July, 2000

Dear Ms. O’Leary,

I am writing to express our pleasure that the Board of Directors of the World Bank has cancelled its support for the Qinghai component of the Western China Poverty Reduction Project. This cancellation sends a much needed signal, following the approval of the Chad-Cameroon Oil and Pipeline project, that the Board will work to ensure that the World Bank accountability mechanisms are used to screen out projects that cannot meet even its own participatory, sustainable development standards.

WORLD BANK REPUTATION ON THE LINE OVER TIBET PROJECT

Activists look to Canada for leadership to uphold Bank policies and protect Tibetans

October 8, 1999

Hon. Pierre Pettigrew
Minister for International Trade
Department of Foreign Affairs and International Trade
125 Sussex Drive
Ottawa, ON
K1A 0G2

By FAX: 996-8924
Eight pages including this page

Dear Minister Pettigrew,

This letter contains the formal response of the Working Group on the EDC to the Report on the Review of the Export Development Act, conducted by the firm Gowling, Strathy & Henderson.

The Working Group on the EDC is a coalition of Canadian non-governmental organizations concerned about the human and environmental impact of export financing agencies. The Working Group, which is a project of the Halifax Initiative, promotes adherence by export credit agencies, particularly the Export Development Corporation, to internationally accepted standards regarding human rights, environment and sustainable development.