BDC raises support for Canadian oil and gas sector

Business Development Canada and Export Development Canada are to make available additional financial capacity to help support the country's oil and gas sector during the COVID-19 pandemic.

BDC will make available higher risk financing for the sector to strengthen companies’ financial position and complement financing available from EDC and other financial institutions. The commercial loans, ranging in size between $15 million and $60 million each, are meant to be used to fund operational cashflow needs for a 12-month period.