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.
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.
Above Ground works to ensure that companies based in Canada or supported by the Canadian state respect human rights and the environment worldwide. It is a project of MakeWay, a national charity that builds partnerships and solutions to help nature and communities thrive together.
Above Ground c/o MakeWay
400-163 West Hastings Street
Vancouver, BC V6B 1H5
438-992-5163
