In 2020, FinDev Canada doubled its investments compared to the previous year, injecting much needed capital into developing countries.
As part of its continued growth since its launch in 2018, FinDev Canada hired 17 new staff members in 2020. This represents a 57% increase in FinDev Canada’s total headcount since December 2019. Twelve of these new positions are considered to be intermediate or senior roles.
Top performance in gender-lens investing
FinDev Canada completed its term as the 2019–2020 Chair of the 2X Challenge in June 2020. Our term ended with the announcement that 2X members had committed and mobilized $4.5 billion in gender-smart investments as of the end of 2019, surpassing the original $3 billion goal.
FinDev Canada was highlighted as a top-performing institution on gender-lens investing, among peers and partners such as IDB Invest, CDC Group and IFC, in the Gender Equity in Development Finance Survey conducted by the Center for Global Development.
With all business migrating to a virtual format, adapting to the new reality to continue to engage with stakeholders was a priority in 2020. We successfully hosted a launch event of our 2019 Annual Report, which allowed us to show results and be accountable toward several Canadian and international stakeholders, and we also participated in the first-ever Finance in Common Summit, resulting in a commitment by development finance institutions (DFIs) to flow capital toward the post-pandemic recovery of African small and medium-sized enterprises (SMEs), the MaRS Impact Week, and several events focused on COVID-19 response in developing countries.