Province of Québec

SECTOR Subsovereign
RATINGS  AA-/Aa2/AA-
RATING OUTLOOK All stable
FUNDING VOLUME FY21/FY22 (to 31 Mar fiscal year-end) C$38.4BN/C$28.5BN
RISK WEIGHT, LCR LEVEL 0%, LCR Level 1 in most countries
REPO ELIGIBILITY 

BoC, US Fed, ECB, SNB
About the Ministry of Finances, Province of Québec

Under the act respecting Québec’s Ministry of Finances, the minister’s mission is to foster economic development and advise the government on financial matters. Accordingly, part of the role of the Ministry of Finances is to advise the minister and the government in the budgetary, fiscal, economic, financial and accounting fields. Among other things, the Ministry of Finances has a mandate to:

  • Ensure financing for the government and certain public-sector organisations and forecast spending on debt servicing.
  • Manage debt, asset portfolios and debt servicing.
  • Maintain and develop relations with the financial institutions involved in the government’s financing, investors and credit-rating agencies, and manage the government’s financial and banking operations.

The government’s debt-management approach aims to borrow at the lowest possible cost. To this end, it applies a strategy for diversifying sources of funding by market, financial instrument and maturity. Financing transactions are carried out regularly in most markets including Canada, the US, Europe, Australia and Asia. Nonetheless, the government keeps no exposure of its debt to these currencies.

SUSTAINABILITY OBJECTIVE OF GSS BOND PROGRAMME
Funding Québec’s green infrastructure projects.

GSS BOND PROGRAMME NAME Green Bond Program
REFERENCE TAXONOMIES FOR THE USE OF PROCEEDS Green Bond Principles and issuer’s own definitions
FRAMEWORK WITH WHICH THE GSS BOND PROGRAMME IS ALIGNED Green Bond Principles 
EXTERNAL REVIEW PROVIDER  CICERO (dark green)
Sustainable funding strategy

The Province of Québec is committed to the green-bond market and plans to remain a regular issuer. Depending on projects and market conditions, the province plans to issue a green bond every 12-18 months.

FOR FURTHER INFORMATION PLEASE CONTACT:

Ministère des Finances du Québec
Direction des Communications
+1 418 528 9323
This email address is being protected from spambots. You need JavaScript enabled to view it. 
www.finances.gouv.qc.ca/index_en.asp