Canada Development Investment Corporation’s Emergency COVID-19 Mandate
CDEV and CEEFC have been mandated to assist the Government of Canada as part of Canada’s COVID-19 Economic Response Plan.
As a federal Canadian Crown Corporation established to manage investments assigned to it, CDEV has been mandated to implement the Government of Canada’s Large Employer Emergency Financing Facility in cooperation with Innovation, Science and Economic Development Canada (ISED) and the Department of Finance.
This program will provide emergency funding support for large Canadian enterprises facing financial challenges in light of the economic impact of the global COVID-19 pandemic. CEEFC has been formed to administer this mandate.
LEEFF will be open to large Canadian employers who (a) have a significant impact on Canada’s economy, as demonstrated by (i) having significant operations in Canada or (ii) supporting a significant workforce in Canada; (b) can generally demonstrate approximately $300 million or more in annual revenues; and (c) require a minimum loan size of about $60 million.
Broader sectoral dynamics for LEEFF applicants will be considered by Innovation Science and Economic Development Canada. As part of this process, applicants will also be contacted by ISED officials.
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