Export Development Canada (EDC) and Qatar National Bank (QNB) have signed a US$100mn line of credit. This marks the first time EDC has established such a credit with any commercial bank in a Gulf Cooperation Council (GCC) country, thus accelerating and simplifying the procurement of Canadian expertise and technology.

Qatar holds potential for Canada, where several Canadian companies are already active in power, oil and gas.

“EDC views Qatar National Bank as a key partner in its efforts to develop and promote Canadian goods and services exports to Qatar,” says Benoit Daignault, EDC senior vice-president for business development. “Qatar is now heavily investing in its infrastructure – up to US$60bn over the next 10 years – and EDC’s line of credit will help Canadian exporters and investors capitalise on the mass of opportunities generated by this surge in investment.”