Toronto, March 27, 2026 — Canada Development Investment Corporation (CDEV) welcomes this week’s Royal Assent of the Government of Canada’s Budget Implementation Act which contains legislation that will establish CDEV under its own statute once enacted.

CDEV advances economic prosperity for Canada by delivering financial and commercial expertise that government relies on. As a self-sustaining Crown corporation operating since 1982, CDEV has become the federal government’s trusted advisor and active asset manager responsible for more than $75B in strategic assets.

The CDEV legislation will continue CDEV’s existing mandate and operations while introducing a standalone statutory framework. This brings CDEV into alignment with peer Crown corporations—such as Export Development Canada and the Business Development Bank of Canada—and enhances clarity, transparency, and efficiency in how it operates.

Once the legislation comes into force, CDEV will continue to operate on a self-sustaining basis, with no changes to its day-to-day operations. As before, any new business activities will require approval from the Minister of Finance and the Treasury Board through CDEV’s corporate planning process.

“This legislation positions CDEV to continue to provide the agility and execution capability required for government to respond with speed and impact when economic conditions demand decisive action” said Elizabeth Wademan, President and Chief Executive Officer of CDEV. “We bring critical financial and commercial expertise to complex financial situations, resulting in stronger Canadian industries and long-term prosperity for Canadians.”

CDEV remains committed to responsible asset management, strong accountability, and delivering value for Canadians.