Pooled financing

Important : Please note that Financement-Québec was dissolved on March 31, 2025, and that its activities were transferred to the Financing Fund on April 1, 2025.

The Ministère des Finances offers Québec’s public‑sector bodies financing at the lowest possible cost through pooled financing. Loans are granted at the government’s borrowing cost, to which are added service fees.

Pooled financing is offered by the following two entities:

• the Financing Fund, which offers services to bodies included in the Québec government’s reporting entity;
• Financement-Québec, which offers services to bodies excluded from the government’s reporting entity.

This web page contains information common to both entities. Information specific to the Financing Fund and to Financement-Québec can be found in their respective sections.

Interest rates and fees applicable to loans

The terms and conditions of loans granted by the Financing Fund and Financement-Québec are established in accordance with the criteria set by Québec government decree with respect to:

• the fixing of interest rates;
• the nature of the costs taken into consideration in calculating these rates;
• the fees that may be charged for the service of these loans.

The applicable issuance and service fees are set out in a fee schedule, in accordance with the aforementioned decrees. This fee schedule is consistent with the objectives and principles pursued by the Financing Fund and Financement-Québec.

Guarantees required on loans granted

The Financing Fund and Financement-Québec require a guarantee on the loans they grant. This generally consists of:

• a hypothec covering the subsidy granted by the government to the borrowing body to repay its loan;
  or
• a commitment by the minister responsible for the body to exercise his or her powers should the body default on the loan, to ensure that the body remedies the situation.