Institutions

The Canadian government is a key actor in the international financial system and its institutions. It is one of very few governments to be represented on:

• the Group of Eight (G8) and Group of 20 (G-20), where the leaders of these countries discuss key global issues, such as human rights and financing for development;
• the Paris Club of creditor nations, where discussions relating to bi-lateral debt take place;
• the Organization for Economic Cooperation and Development (OECD), where discussion on overseas development assistance (ODA or aid) take place, and matters related to export credit agencies. ECAs, for example, support questionable projects in the Extractive Sector;
• the Board of the World Bank Group (WBG) as an Executive Director - that is at the International Bank for Reconstruction and Development, International Development Association, International Finance Corporation, and Multilateral Investment Guarantee Agency, where international development issues are discussed and coordinated;
• the Board of the International Monetary Fund (IMF); and,
• the Board of the Regional Development Banks (Asian Development Bank, African Development Bank and the European Bank for Reconstruction and Development).

As well, a number of Canada's private sector banks also play a role in international project finance under the equator principles.

Canada is therefore a key player among these institutions and in advocating for their institutional reform.

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