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Posted on May 1, 2024 | Updated at 10AM

FinDev Canada endorses the DFI blended finance principles, considered best practice for DFIs

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Montreal (Quebec), 1 May 2024 – FinDev Canada, Canada’s bilateral Development Finance Institution (DFI), has joined the DFI Working Group on Blended Concessional Finance for Private Sector Projects (DFI Blended Finance Working Group), and endorsed the DFI Enhanced Principles for Blended Concessional Finance. These principles represent best practice among DFIs, promoting high standards, additionality, commercial sustainability, crowding-in and minimum concessionality, as well as reinforcing markets.

FinDev Canada is already applying the Enhanced Principles through the 2X Canada Facility, a blended finance facility launched in 2021 and led by FinDev Canada, with funding from the Government of Canada through Global Affairs Canada.

“Our membership in the DFI Blended Finance Working Group provides FinDev Canada with the opportunity to join a best-in-class peer group in a space that is critical as we collectively look to advance private capital mobilization in support of the Sustainable Development Goals and Paris Agreement commitments,” says Paulo Martelli, VP and Chief Investment Officer at FinDev Canada.

The Multilateral Development Banks (MDB) and European Development Finance Institutions (EDFI) adopted the Enhanced Principles and formed the DFI Blended Finance Working Group in October 2017. Chaired by the International Finance Corporation (IFC), the 23-member DFI Working Group is made up of development finance institutions who apply blended finance to support development with and through the private sector. 

About the DFI Working Group on Blended Concessional Finance

The current members of the DFI Blended Concessional Finance Working Group are: the African Development Bank (AfDB), the Asian Development Bank (AsDB), the Asian Infrastructure Investment Bank (AIIB), the European Bank for Reconstruction and Development (EBRD), the Association of European Development Finance Institutions (EDFI), the European Investment Bank (EIB), the Inter-American Development Bank Group (IDBG), the Islamic Corporation for the Development of the Private Sector (ICD), and the International Finance Corporation (IFC).

The EDFI’s members are BIO (Belgium), British International Investment (BII, UK), Cofides (Spain), DEG (Germany), Finnfund (Finland), FMO (The Netherlands), IFU (Denmark), Norfund (Norway), OeEB (Austria), Proparco (France), Sifem (Switzerland), Simest/CDP (Italy), Sofid (Portugal), and Swedfund (Sweden).

About FinDev Canada      

FinDev Canada is Canada’s bilateral Development Finance Institution (DFI), supporting development through the private sector. We provide financing, investment, and blended finance solutions, as well as technical assistance and knowledge, to promote sustainable and inclusive growth in emerging markets and developing economies (EMDEs), in alignment with the Sustainable Development Goals (SDGs) and Paris Agreement commitments. FinDev Canada is a wholly owned subsidiary of Export Development Canada (EDC). Find out more about FinDev Canada at   


Media Contact

FinDev Canada

Florence Reinson        

Senior External Communications and Media Advisor