The US-listed tanker owner said the funds will help pay for ship construction and conversion at shipyards in China over three years.
The loans will be made available to spinoffs Teekay LNG Partners, Teekay Offshore Partners and Teekay Tankers, whose shares also trade on the New York Stock Exchange.
The framework agreement "further strengthens our existing relationship with CEXIM and represents yet another source of capital for the Teekay group," said Vince Lok, Teekay's executive vice president and chief financial officer.
