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The core mission of the Financing FundClientele, loans, and borrowings and Financement-QuébecClientele, loans, borrowings, and financial results is to offer Québec public bodies financing at the lowest possible cost by means of pooled financing.


The Financing Fund has a mandate to provide pooled financing for the bodies in the government’s reporting entity. The clientele includes public bodies in the health and social services network and the education network (school service centres, school boards, CEGEPs and the Université du Québec and its constituent universities), special funds, government corporations and certain other government organizations. Financement-Québec assumes this mandate in respect of bodies excluded from the government’s reporting entity, in particular private universities as well as municipal transit authorities.

The government borrows on the financial markets and makes advances to the Financing Fund and Financement-Québec, which then lend the funds to their clientele. Financement-Québec can also borrow in its name on the financial markets, guaranteed by the government, then lends the funds to its clientele.

Consequently, the clienteles can borrow under better conditions than if they borrowed on the financial markets. Pooled financing makes it possible to borrow at rates that are equivalent or similar to those of the government.

More specifically, the Financing Fund and Financement-Québec offer their clienteles:

  • direct financing by means of loans;
  • advice to facilitate access to credit and reduce financing cost;
  • the elaboration and implementation of financing programs;
  • the management of financial risk, in particular treasury risk
    and foreign exchange risk.

A brief historic overview of pooled financing

1991: Establishment of the Financing Fund, with a mandate to provide pooled financing for Québec public bodies.

1998: Accounting reform to broaden the government’s reporting entity. It will lead to the establishment of Financement-Québec.

1999: Establishment of Financement-Québec, which is responsible for pooled financing for part of the Financing Fund’s clientele, i.e. bodies excluded at that time from the reporting entity, in particular public bodies in the health and social services network and bodies in the education network.

2007: Accounting reform that included the majority of public bodies in the education and the health and social services networks in the government’s reporting entity.

2013: Reorganization of the clienteles that the Financing Fund and Financement-Québec serve depending on their inclusion in or exclusion from the government’s reporting entity.

2022: Amendment to the Regulation respecting borrowings made by a body. The temporary financing of investments subsidized by the Québec government must now be made with the Financing Fund or Financement-Québec.