Export Development Canada revealed that it paid over $208 million to a consultant to oversee a loan program during the COVID-19 pandemic. However, legislators were not informed about the payments to Accenture PLC, which will continue until 2024..“Accenture has received $208,087,624.97 in contracts to administer the Canada Emergency Business Account, including $71 million that Accenture will receive under the current contracts set to expire in January and February of 2024,” Export Development Canada wrote in a Senate tabling..“Export Development Canada, a financial Crown corporation governed by a board of directors operating at arm’s length from the Government of Canada, made the full decision to contract and negotiate the contracts with Accenture related to the administration of the program Accenture provided staff augmentation and technology services, not consultant advice.” .According to Blacklock’s Reporter, the figures were disclosed at the request of Senator Yonah Martin (BC), the deputy Opposition leader..In 2020, the Parliament launched the Emergency Business Account program to assist small businesses. The program offered interest-free loans of up to $40,000, with a quarter of the loan forgiven upon repayment. Later, the cabinet extended the loan terms to $60,000, with a third of the loan forgiven upon repayment, and the deadline for repayment was set for Dec. 31, 2023..During the 2020 hearings of the Commons Finance committee, executives from Export Development Canada did not reveal that they had hired a consultant to assist with the program. No MP asked about the consultant during the hearings..“The desire to get this out as quickly as possible in a considered and consolidated way so it’s standardly delivered across the country has just taken the time it has,” testified Todd Winterhalt, senior vice-president at Export Development Canada. Winterhalt said the Crown corporation negotiated with 230 banks and credit unions to offer taxpayer-backed loans..“Accenture joined the Canada Emergency Business Account team at the program’s onset and was instrumental in developing a successful program,” said the Senate tabling. .“The complex nature of the program’s requirements necessitated both dedicated internal and external resources that would allow the program to be developed and launched expeditiously.”.“Accenture provides several core services such as maintaining back-end digital platforms, servicing the customer call centre and developing resources and tools for applicants,” wrote Export Development. .“Given Accenture’s role in the Canada Emergency Business Account to provide ongoing technology services, EDC expects a maintenance and support contract to be negotiated to support ongoing collection activities.”.The program paid out $49.2 billion, by an official estimate. In a March 21 Inquiry of Ministry tabled in the Commons, Cabinet disclosed that the program paid $2.05 billion to borrowers subsequently discovered to be ineligible. The Canada Revenue Agency said another $1.05 billion was paid to insolvent companies..The full extent of losses from the program will not be determined until 2024.
Export Development Canada revealed that it paid over $208 million to a consultant to oversee a loan program during the COVID-19 pandemic. However, legislators were not informed about the payments to Accenture PLC, which will continue until 2024..“Accenture has received $208,087,624.97 in contracts to administer the Canada Emergency Business Account, including $71 million that Accenture will receive under the current contracts set to expire in January and February of 2024,” Export Development Canada wrote in a Senate tabling..“Export Development Canada, a financial Crown corporation governed by a board of directors operating at arm’s length from the Government of Canada, made the full decision to contract and negotiate the contracts with Accenture related to the administration of the program Accenture provided staff augmentation and technology services, not consultant advice.” .According to Blacklock’s Reporter, the figures were disclosed at the request of Senator Yonah Martin (BC), the deputy Opposition leader..In 2020, the Parliament launched the Emergency Business Account program to assist small businesses. The program offered interest-free loans of up to $40,000, with a quarter of the loan forgiven upon repayment. Later, the cabinet extended the loan terms to $60,000, with a third of the loan forgiven upon repayment, and the deadline for repayment was set for Dec. 31, 2023..During the 2020 hearings of the Commons Finance committee, executives from Export Development Canada did not reveal that they had hired a consultant to assist with the program. No MP asked about the consultant during the hearings..“The desire to get this out as quickly as possible in a considered and consolidated way so it’s standardly delivered across the country has just taken the time it has,” testified Todd Winterhalt, senior vice-president at Export Development Canada. Winterhalt said the Crown corporation negotiated with 230 banks and credit unions to offer taxpayer-backed loans..“Accenture joined the Canada Emergency Business Account team at the program’s onset and was instrumental in developing a successful program,” said the Senate tabling. .“The complex nature of the program’s requirements necessitated both dedicated internal and external resources that would allow the program to be developed and launched expeditiously.”.“Accenture provides several core services such as maintaining back-end digital platforms, servicing the customer call centre and developing resources and tools for applicants,” wrote Export Development. .“Given Accenture’s role in the Canada Emergency Business Account to provide ongoing technology services, EDC expects a maintenance and support contract to be negotiated to support ongoing collection activities.”.The program paid out $49.2 billion, by an official estimate. In a March 21 Inquiry of Ministry tabled in the Commons, Cabinet disclosed that the program paid $2.05 billion to borrowers subsequently discovered to be ineligible. The Canada Revenue Agency said another $1.05 billion was paid to insolvent companies..The full extent of losses from the program will not be determined until 2024.
