The agreement doesn’t finance anything immediately, but will see EDC put aside the funds to support exports from the Canadian branch of the Swedish telephony company, the Crown corporation’s spokesperson Victoria Marcantonio told The Logic. (The Logic)

Talking point: Ericsson has large presences in Ottawa, Montreal and Toronto, about 3,100 employees in all, mainly focused on networking technologies like 5G. Supporting exports of products made in Canada means business for Ericsson’s Canadian suppliers and partners, both EDC and the company said. Each transaction will go through EDC’s usual process, Marcantonio said by email, but adding Ericsson to EDC’s roster will facilitate connections for other Canadian companies. EDC made a similar deal with Nokia in 2021 and, in the following years, helped finance hundreds of millions of dollars in exports to customers that included T-Mobile and Vodafone. The federal government has previously given Ericsson $79.1 million through the Strategic Innovation Fund.