Economy · 18 d ago
Caroline Martin · CC BY-SA 3.0 igo · Wikimedia Commons
European Investment Bank applies for an exemption to operate in Canada
What the bank is asking for
Exemption from foreign bank status
The European Union's lending arm has applied for an exemption from foreign bank status, a request published on Friday in the Canada Gazette. It would bring the bank one step closer to operating in Canada.
Sectors the minerals deal targets
- Clean energy
- Technology
- Defence
The bank and Ottawa signed a letter of intent in March to work together on critical minerals, to keep supply chains stable for clean energy, tech and defence.
What's next
The application comes ahead of the Canada-EU Summit in Montreal at the end of October, where both sides are expected to announce the next steps in their partnership.
