Last week EDC announced that a review of its support for an SNC-Lavalin project in Angola cleared its staff of any wrongdoing. Yet the review process raises more questions than it answers.
Legal and policy reforms are needed to bolster anti-corruption mechanisms at Export Development Canada (EDC), according to a report released today by Above Ground. The publication identifies key weaknesses in EDC’s anti-corruption screening procedures and names several EDC clients investigated and/or charged with corrupt practices.
Anti-Corruption and Export Development Canada: Recommendations for an Effective Policy and Improved Regulatory Oversight
In this report, we examine reforms needed to raise Export Development Canada’s anti-corruption client screening to a more robust standard. The recommendations are informed by leading anti-corruption policies and guidance documents from other export credit agencies, international financial organizations and the private sector.