Tony Clement, Minister of Industry announced that the Government of Canada has increased Business Development Bank of Canada (BDC's) 2008-09 borrowing approval from $9.7 billion to $11.5 billion.
The increase is to provide greater flexibility in meeting the credit demands of its small and medium-sized business clients.
"The recent credit market tightening has increased the demand for financing offered by such Crown corporations as BDC," said Minister Clement.
Today's action builds on the government's approval last month of a $2-billion increase in Export Development Canada's borrowing authority to ensure that its clients have access to the financing for future initiatives.
.jpeg;w=120;h=80;mode=crop)
