European Investment Bank applies for exemption from foreign bank status

OTTAWA — The European Investment Bank has applied for an exemption from foreign bank status in Canada, a move that would bring the lending arm of the European Union one step closer to operating here.

The request was published today in the Canada Gazette, the government’s weekly publication listing new regulations and official notices.

The bank and the Canadian government signed a letter of intent in March committing to look for new ways to work together in areas like critical minerals.

The goal of that letter is to help ensure stable supply chains for various minerals and metals used in the clean energy, tech and defence sectors.