News Column

Export Development Canada Provides Financing of USD 70 M to Pacific Rubiales

August 8, 2014



By a News Reporter-Staff News Editor at Energy Weekly News -- Export Development Canada (EDC) announced financing of USD 70 M to Pacific Rubiales Energy Corp., renewing its partnership with the largest private sector publicly traded oil and gas producer operating in Colombia.

EDC is a leading global financier for international companies that have, or are considering, Canadian companies in their supply chain. In 2013, more than CAD 95 B of EDC's financial services were used to make business between international and Canadian companies easier.

"EDC can provide reliable financing for Columbia and Central American companies," said Stephen Benoit, Chief Representative, Andean Region, EDC. "EDC's ability to match leading Canadian companies with the supply chain needs of Central American companies is invaluable. Our goal is to be a financial partner that helps South American and Canadian companies grow together."

EDC has permanent representations in Bogota that provide on-the-ground support to companies looking to partner with Canadian business.

This financing will help develop new opportunities for South American companies to benefit from Canadian expertise that meets their supply chain needs in the oil and gas, extractive, and manufacturing sectors.

"Pacific Rubiales is an important supply chain in Central America within the oil and gas exploration sector, an industry that pairs well with Canadian expertise, particularly at the SME level," said Carl Burlock, Senior Vice-President, Financing and Investments, EDC. "This is a great opportunity for Canadian companies to get the chance to showcase their value-add and expertise in these high-growth regions."

Canada is the fifth largest source of global investment in Colombia, with merchandise exports from Canada to Colombia reaching a value of CAD 785 M in 2012, focused in the resources and oil/gas sectors.

EDC provides financing and insurance products to help Canadian companies grow their international business. Part of that offering includes financing for Central and South American buyers, and project owners, through which it can learn about their supply chain needs and introduce them to Canadian companies that have the right services to help them grow.

Canadian companies active in the aforementioned sectors and looking to grow their business in Columbia can contact EDC at 1-800-295-2528.

Keywords for this news article include: Energy, Oil & Gas, Oil And Gas, Banking and Finance.

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Source: Energy Weekly News


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