In recent weeks, the federal government of Canada has
increasingly indicated that COVID-era type supports would be
established as part of Canada's broader response to what is now
a very real and ongoing trade war with the United States. Please
see our Financial Services Group's article from February 21,
which sets the stage regarding potential financing and other fiscal
supports from both federal and provincial governments across
Canada.
On March 7, as part of a broader statement, the Canadian federal
government announced a $6.5 billion aid package that will be made
available to Canadian businesses through three specific federal
Crown corporations: Export Development Canada
("EDC"), the Business Development Bank
of Canada (the "BDC"), and Farm Credit
Canada ("FCC"), to support Canadian
businesses through the trade war with the United States. While many
details are still unknown, below is a brief summary of the new
programs being established by EDC, the BDC, and