FinDev Canada welcomes the Government of Canada’s decision to invest an additional $750 million into the DFI to support Canada’s international development priorities, including expanding into in the Indo-Pacific region. The opportunity offered by the region in terms of advancing Canada’s interests and values is paralleled only by its need for comprehensive development finance that can be leveraged to mobilize much needed private capital to accelerate economic recovery and the transition to low-carbon, climate- resilient economic growth.
“This announcement is a strong show of confidence in the work that FinDev Canada has been doing since 2018”, says FinDev Canada’s CEO Lori Kerr. “With this additional capital, FinDev Canada will be well-positioned to address development challenges through the private sector under Canada’s Indo-Pacific Strategy.”
As Canada’s DFI, FinDev Canada is the Government’s conduit to sustainable and inclusive private sector growth and investment in emerging and developing markets. FinDev Canada concentrates its activities in three sectors that have the highest ability to help achieve our impact goals: sustainable infrastructure; agribusiness and forestry and associated value chains; and financial services.
With this additional capital, FinDev Canada will work to increase investments in all priority sectors, including in sustainable infrastructure. By focusing on renewable energy, sustainable transportation, water, and digital communications, the DFI’s investments will increase the availability of, and access to, essential services, and contribute to FinDev Canada’s impact goals to develop local markets, empower women, and promote climate action, including the preservation of natural resources. These efforts align with the G7’s Partnership for Infrastructure and Investment which seeks to narrow the investment gap for sustainable, inclusive, climate resilient and quality infrastructure in emerging markets and developing countries.
About FinDev Canada
FinDev Canada is Canada’s development finance institution dedicated to supporting sustainable and inclusive private sector growth and investment in emerging and developing markets to advance women’s economic empowerment, climate action and local market development. FinDev Canada is a subsidiary of Export Development Canada (EDC). More information about FinDev Canada is available on www.findevcanada.ca.