Investissement Québec recorded a profit of $123 million and a return of 2.6% for the fiscal year that ended March 31. This is what the financial arm of the Quebec government indicates in its annual activity report published Tuesday.
The average return over the last five years has reached 5.1%. According to the organization, this return exceeds the long-term average return target on its equity, set at the government’s borrowing rate.
Investissement Québec also mentions having carried out more than 3,000 financial interventions. In total, more than $4.0 billion was paid out, for a project value of $12.3 billion. Around 60% of the amounts paid out were granted to support strategic sectors of the province’s economy.
Internationally, Investissement Québec supported several Quebec exporters, which allowed them to generate $5.1 billion in sales on foreign markets, compared to $1.01 billion for the 2018-2019 fiscal year. The company provided more than 4,000 support to companies in their export efforts.
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