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Word Count: 3,050
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 are sheltered from the public view so most Canadians have no idea what the EDC is involved in It has now become clear that a number of EDC supported projects are socially environmentally and economically destructive It is also clear that the EDCs activities are a perfect breeding ground for corruption and for business activities that destroy the environment sink Third World citizens in debt and cost Canadians money Alarmingly these harmful projects are made possible thanks to mislead and misinformed Canadian Taxpayers What the EDC is doing to other countries and our own is unacceptable and should be put to a stop Canadian citizens living in a country where democracy rules and free speech is encouraged have a right to obtain knowledge about what major Canadian corporations are investing in and what types of projects they are supporting Crown agencies like the Export Development Corporation should be subject to the Access to Information Act What the Access to Information Act provides for the public is records ranging from expense reports to correspondence from major federal departments These types of records are accessible to the public for a fee of 500 However several agencies are not subject to the Act particularly Crown corporations and other entities created by the government These Access laws encourage corporations to be demonstrably worthy of public trust and by the EDCs fight to not be subjected to the Access law just makes them appear to be guiltily hiding their actions from the
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