Export Development Canada (EDC; ) is Canada's export credit agency and a state-owned enterprise wholly owned by the Government of Canada. Its mandate is to support and develop trade between Canada and other countries, and help Canada's competitiveness in the international marketplace. EDC products and services include trade credit insurance, export financing for Canadian companies and for their foreign customers, equity investments, bonding products, international market expertise, as well as information on opportunities in international markets. EDC was founded in 1944. Its corporate headquarters is located in Ottawa, Ontario, and it has 21 regional offices across Canada and permanent representations in 21 cities in 15 foreign markets. History Founding (1944-2017) In 1944, the Export Credits Insurance Act was proclaimed. Export Credit Insurance Corporation (ECIC) was created following WWII to help stimulate the Canadian economy, create jobs and help Canadian exporters. In the 1940s, EDC began acting as a "trade facilitator for Canadian businesses doing deals abroad." The Export Development Act proclaimed on October 1, 1969, repealed Part 1 of the Export Credits Insurance Act and established the Export Development Corporation (EDC) as successor to all property, rights, and obligations. In 2001, EDC changed its name from Export Development Corporation to Export Development Canada. In 2014, EDC joined the loan party and announced it would be giving US$500 million to Reliance Industries, the largest private company in India, a move criticized by Maclean's. EDC in 2016 provided $1.2 billion in Canadian dollars in financing, and in 2017, was looking to provide loans worth CAD$1.3 billion to businesses in India. EDC had previously financed Tata Steel, Tata Communications, and Ultratech Cement, and over the past five years had done business worth $10 billion. In 2017, it lent $215 million to Idea Cellular in India. Recent history (2018-2021) In 2018, the Office of the Auditor General of Canada stated "significant deficiencies" had been found in relation to risk management at EDC, after Above Ground found EDC did not have "effective screening for corruption," according to the National Observer. Research in late 2018 found that EDC gave "12 times as much financial backing to oil and gas companies as it did to clean technology companies over the last five years." In May 2019, Oil Change International ranked EDC second in the world after China in "support for fossil fuels" financially, averaging $10 billion a year. In 2019 EDC launched a review of a 2011