Transparency and disclosure

Transparency Policy and Approach

In addition to development impacts, FinDev Canada aims to fully understand the human rights and environmental and social (E&S) risks presented by the operations of the businesses it supports.  FinDev Canada’s E&S Assessment Policy outlines the approach taken to mitigate human rights and E&S risks and potentially improve baseline E&S conditions in the businesses it supports.

FinDev Canada also had an independent verification conducted by BlueMark to assess the alignment of FinDev Canada’s impact management system with the Principles.

M-KOPA, LLC

Date of public notification (dd/mm/yy)  
 
 
 
Date of signing (dd/mm/yy) 
28/02/18
 
 
Domicile (country) of Business Operations 
Kenya    
 
 
Domicile of Incorporation 
USA     
 
 
Principal Counterparty/ies  
M-KOPA, LLC  
 
 
Project Name (if applicable)    
N/A
 
 
Financing Service
Equity Investment
 
 
General description of transaction    
M-KOPA provides solar lighting and other products to off-grid households on a pay-as-you-go basis 
 
 
Amount of Financial Support (anticipated/ actual) 
USD 10,000,000
 
 
Name of Project Sponsor Project Contact (with link to Environmental and Social Impact Assessment (ESIA)) --  if applicable    
N/A
 
 
Type of E&S Information Reviewed & Summary of Transaction 
 
 
Canadian Company Involved (if applicable) 
N/A

Climate Investor One

 

Date of public notification (dd/mm/yy)  
26/10/2018  
 
 
Date of signing (dd/mm/yy) 
04/12/2018
 
 
Domicile (country) of Business Operations 
Multiple Countries    
 
 
Domicile of Incorporation 
The Netherlands     
 
 
Principal Counterparty/ies  
Climate Investor One  
 
 
Project Name (if applicable)    
N/A
 
 
Financing Service
Fund Investment
 
 
General description of transaction    
Climate Investor One facilitates early-stage development, construction financing, and refinancing to fast-track renewable energy projects in developing countries.
 
 
Amount of Financial Support (anticipated/ actual) 
USD 20,000,000
 
 
Name of Project Sponsor Project Contact (with link to Environmental and Social Impact Assessment (ESIA)) --  if applicable    
N/A
 
 
Type of E&S Information Reviewed & Summary of Transaction 
 
 
Canadian Company Involved (if applicable) 
N/A

 

EcoEnterprises III, L.P.

 

Date of public notification (dd/mm/yy)  
10/04/2019  
 
 
Date of signing (dd/mm/yy) 
22/05/2019
 
 
Domicile (country) of Business Operations 
United States of America    
 
 
Domicile of Incorporation 
Ireland     
 
 
Principal Counterparty/ies  
EcoEnterprises III, L.P.  
 
 
Project Name (if applicable)    
EcoEnterprises III
 
 
Financing Service
Fund Investment
 
 
General description of transaction    
EcoEnterprises III is an investment fund that is providing capital to bio diversity based growth SMEs operating in sensitive ecosystems in Latin America.  The fund is managed by GEC EcoEnterprises Management, a specialist fund manager dedicated to securing a sustainable future through impactful investing.
 
 
Amount of Financial Support (anticipated/ actual) 
USD 12.5 million
 
 
Name of Project Sponsor Project Contact (with link to Environmental and Social Impact Assessment (ESIA)) --  if applicable    
GEC EcoEnterprises Management, LLC
 
 
Type of E&S Information Reviewed & Summary of Transaction 
 
 
Canadian Company Involved (if applicable) 
N/A

 

Danper Agrícola La Venturosa S.A.C.

 

Date of public notification (dd/mm/yy)  
13/05/2019  
 
 
Date of signing (dd/mm/yy) 
27/06/2019
 
 
Domicile (country) of Business Operations 
Peru    
 
 
Domicile of Incorporation 
Sector Talambo, Chepen, La Libertad, Peru     
 
 
Principal Counterparty/ies  
Danper Agrícola La Venturosa S.A.C.
 
 
Project Name (if applicable)    
Danper ALV
 
 
Financing Service
Secured Senior Debt
 
 
General description of transaction    
Support the change in crop from low-value grape variety to high-value seedless grape varieties and avocado, as well as other operating enhancements.
 
 
Amount of Financial Support (anticipated/ actual) 
USD 8 million
 
 
Name of Project Sponsor Project Contact (with link to Environmental and Social Impact Assessment (ESIA)) --  if applicable    
Danper Agrícola La Venturosa S.A.C.
 
 
Type of E&S Information Reviewed & Summary of Transaction 
 
 
Canadian Company Involved (if applicable) 
N/A

 

Alitheia IDF

 

Date of public notification (dd/mm/yy)  
13/05/2019  
 
 
Date of signing (dd/mm/yy) 
28/11/2019
 
 
Domicile (country) of Business Operations 
South Africa and Nigeria    
 
 
Domicile of Incorporation 
Mauritius     
 
 
Principal Counterparty/ies  
Agooji (the "GP")  
 
 
Project Name (if applicable)    
Alitheia IDF
 
 
Financing Service
Fund Investment
 
 
General description of transaction    
Alitheia IDF is an investment fund whose mandate is to invest in SMEs seeking growth funding with a specific focus on women-owned or led businesses operating in Nigeria, South
Africa, Lesotho, Ghana, Zimbabwe and Zambia.
 
 
Amount of Financial Support (anticipated/ actual) 
USD 7,5 million
 
 
Name of Project Sponsor Project Contact (with link to Environmental and Social Impact Assessment (ESIA)) --  if applicable    
IDF Capital (Pty) Ltd and Alitheia Capital (the “Advisors”); Agooji
(the “GP”)
 
 
Type of E&S Information Reviewed & Summary of Transaction 
 
 
Canadian Company Involved (if applicable) 
N/A

 

Africa Forestry Fund II Limited

 

Date of public notification (dd/mm/yy)  
12/08/2019  
 
 
Date of signing (dd/mm/yy) 
25/10/2019
 
 
Domicile (country) of Business Operations 
Sub-Saharan Africa
 
 
Domicile of Incorporation 
Mauritius
 
 
Principal Counterparty/ies  
Africa Sustainable Forestry Partners II L.P. (the “Sponsor”, the “General Partner”
or “GP”);
Criterion Africa Sustainable Forestry Management II LLC (the “Manager” or
“Advisor”)
 
 
Project Name (if applicable)    
Africa Forestry Fund II Limited (AFF II) 
 
 
Financing Service
Fund Investment
 
 
General description of transaction    
ASFF II is an investment fund focused on forestry and forestry-related assets in Sub-Saharan Africa. The Fund reached first close in April 2018 with a total capital
commitment of US$ 81M and is targeting a US$ 150M final close. The Fund has strong potential to provide positive environmental impact, local market
development and contribute to women’s economic empowerment at the investee companies.
 
 
Amount of Financial Support (anticipated/ actual) 
Up to USD 7.5 million
 
 
Name of Project Sponsor Project Contact (with link to Environmental and Social Impact Assessment (ESIA)) --  if applicable    
N/A
 
 
Type of E&S Information Reviewed & Summary of Transaction 
 
 
Canadian Company Involved (if applicable) 
N/A

 

Développement international Desjardins

 

Date of public notification (dd/mm/yy)  
17/10/2019  
 
 
Date of signing (dd/mm/yy) 
19/11/2019
 
 
Domicile (country) of Business Operations 
Canada
 
 
Domicile of Incorporation 
Canada
 
 
Principal Counterparty/ies  
Développement international Desjardins 
 
 
Project Name (if applicable)    
N/A
 
 
Financing Service
Loan facility
 
 
General description of transaction    
Développement international Desjardins provides disadvantaged communities around the world with access to secure diversified financial services. This loan facility will support inclusive microfinance institutions in Colombia and Ecuador.
 
 
Amount of Financial Support (anticipated/ actual) 
USD 1.3M
 
 
Name of Project Sponsor Project Contact (with link to Environmental and Social Impact Assessment (ESIA)) --  if applicable    
N/A
 
 
Type of E&S Information Reviewed & Summary of Transaction 
Coming soon 
 
 
Canadian Company Involved (if applicable) 
Développement international Desjardins 

 

Cooprogreso

 

Date of public notification (dd/mm/yy)  
24/10/2019  
 
 
Date of signing (dd/mm/yy) 
02/12/2019
 
 
Domicile (country) of Business Operations 
Ecuador
 
 
Domicile of Incorporation 
Ecuador
 
 
Principal Counterparty/ies  
Cooperativa de Ahorro y Crédito Cooprogreso Limitada ("Cooprogreso") 
 
 
Project Name (if applicable)    
Cooprogreso
 
 
Financing Service
Unsecured Senior Debt
 
 
General description of transaction    
Unsecured debt facility to finance Cooprogreso's growth in serving its cooperative members through microfinance, commercial and personal loans.
 
 
Amount of Financial Support (anticipated/ actual) 
USD 7.5M
 
 
Name of Project Sponsor Project Contact (with link to Environmental and Social Impact Assessment (ESIA)) --  if applicable    
Cooperativa de Ahorro y Crédito Cooprogreso Limitada
 
 
Type of E&S Information Reviewed & Summary of Transaction 
 
 
Canadian Company Involved (if applicable) 
N/A

 

JCM Power

 

Date of public notification (dd/mm/yy)  
26/10/2019  
 
 
Date of signing (dd/mm/yy) 
17/12/2019
 
 
Domicile (country) of Business Operations 
Pakistan, Malawi, Kenya, Nigeria, Honduras
 
 
Domicile of Incorporation 
Canada
 
 
Principal Counterparty/ies  
JCM Power Corporation (“JCM Power”)
 
 
Project Name (if applicable)    
JCM Power
 
 
Financing Service
Convertible Preferred Shares
 
 
General description of transaction    
JCM Power is a Canadian-based renewable energy company that focuses on the development, construction, acquisition, and operation of utility scale renewable energy projects (primarily solar photovoltaic and wind) in developing countries. 
 
 
Amount of Financial Support (anticipated/ actual) 
USD 20M
 
 
Name of Project Sponsor Project Contact (with link to Environmental and Social Impact Assessment (ESIA)) --  if applicable    
JCM Power Corporation
 
 
Type of E&S Information Reviewed & Summary of Transaction 
 
 
Canadian Company Involved (if applicable) 
JCM Power Corporation

 

Produbanco

 

Date of public notification (dd/mm/yy)  
04/11/2019  
 
 
Date of signing (dd/mm/yy) 
12/02/2021
 
 
Domicile (country) of Business Operations 
Ecuador
 
 
Domicile of Incorporation 
Ecuador
 
 
Principal Counterparty/ies  
Banco de la Produccion S.A.
(“Produbanco”)
 
 
Project Name (if applicable)    
Produbanco
 
 
Financing Service
Unsecured Senior Debt
 
 
General description of transaction    
Unsecured senior debt financing to finance small and medium sized enterprises, including for green business and energy efficiency.
 
 
Amount of Financial Support (anticipated/ actual) 
USD 10M
 
 
Name of Project Sponsor Project Contact (with link to Environmental and Social Impact Assessment (ESIA)) --  if applicable    
Banco de la Produccion S.A.
 
 
Type of E&S Information Reviewed & Summary of Transaction 
 
 
Canadian Company Involved (if applicable) 
N/A

 

M-KOPA 2

Date of public notification (dd/mm/yy)  
02/01/2020  
 
 
Date of signing (dd/mm/yy) 
24/01/2020
 
 
Domicile (country) of Business Operations 
Kenya
 
 
Domicile of Incorporation 
United Kingdom
 
 
Principal Counterparty/ies  
M-KOPA Holdings Limited 
 
 
Project Name (if applicable)    
N/A
 
 
Financing Service
Convertible Promissory Note
 
 
General description of transaction   
Leading off-grid solar company with pay-as-you-go technology, based in Nairobi, Kenya, aiming to expand its product range and geographic markets, and transitioning to broader asset finance strategy targeting low-income, high-volume markets. 
 
 
Amount of Financial Support (anticipated/ actual) 
USD 2.0M
 
 
Name of Project Sponsor Project Contact (with link to Environmental and Social Impact Assessment (ESIA)) --  if applicable    
N/A
 
 
Type of E&S Information Reviewed & Summary of Transaction 
 
 
Canadian Company Involved (if applicable) 
N/A

MFX

 

Date of public notification (dd/mm/yy)  
17/02/2020 
 
 
Date of signing (dd/mm/yy) 
TBD
 
 
Domicile (country) of Business Operations 
United States
 
 
Domicile of Incorporation 
United States
 
 
Principal Counterparty/ies  
MFX Solutions, Inc. MFX Solutions, LLC
 
 
Project Name (if applicable)    
N/A
 
 
Financing Service
Guarantee/Collateral Facility and Revolving line of credit. 
 
 
General description of transaction    
Guarantee/Collateral Facility and Revolving Line of Credit to assist the Company in providing hedging services to more clients,facilitate FX trading, and provide additional liquidity as needed.
 
 
Amount of Financial Support (anticipated/ actual) 
USD 50M
 
 
Name of Project Sponsor Project Contact (with link to Environmental and Social Impact Assessment (ESIA)) --  if applicable    
N/A
 
 
Type of E&S Information Reviewed & Summary of Transaction 
Coming soon 
 
 
Canadian Company Involved (if applicable) 
N/A

 

DPI

Date of public notification (dd/mm/yy)  
16/04/2020 
 
 
Date of signing (dd/mm/yy) 
29/05/2020
 
 
Domicile (country) of Business Operations 
Multiple countries across Africa
 
 
Domicile of Incorporation 
Mauritius
 
 
Principal Counterparty/ies  
ADP III GP Mauritius Limited (the "General Partner")
 
Development Partners International ("DPI" or the "Investment Adviser")
 
 
Project Name (if applicable)    
African Development Partners III Mauritius L.P. ("ADP III")
 
 
Financing Service
Fund Investment
 
 
General description of transaction    
ADP III is a private equity fund providing growth capital to support the expansion or private companies across Africa. The Fund has strong potential to provide positive environmental impact, local market development and contribute to women's economic empowerment to the investee companies
 
 
Amount of Financial Support (anticipated/ actual) 
USD 20M
 
 
Name of Project Sponsor Project Contact (with link to Environmental and Social Impact Assessment (ESIA)) --  if applicable    
N/A
 
 
Type of E&S Information Reviewed & Summary of Transaction 
 
 
Canadian Company Involved (if applicable) 
N/A

CIFI

Date of public notification (dd/mm/yy)  
06/05/2020 
 
 
Date of signing (dd/mm/yy) 
06/07/2020
 
 
Domicile (country) of Business Operations 
Panama
 
 
Domicile of Incorporation 
Panama
 
 
Principal Counterparty/ies  
Corporación Interamericana para el Financiamiento de Infraestructura, S.A. ("CIFI")
 
 
Project Name (if applicable)    
CIFI
 
 
Financing Service
Unsecured Senior Debt
 
 
General description of transaction    
Unsecured Senior Debt financing to finance green growth projects in Latin America and the Caribbean.
 
 
Amount of Financial Support (anticipated/ actual) 
USD 15M
 
 
Name of Project Sponsor Project Contact (with link to Environmental and Social Impact Assessment (ESIA)) --  if applicable    
Corporación Interamericana para el Financiamiento de Infraestructura, S.A. ("CIFI")
 
 
Type of E&S Information Reviewed & Summary of Transaction 
 
 
Canadian Company Involved (if applicable) 
N/A

LAAD

Date of public notification (dd/mm/yy)  
07/05/2020 
 
 
Date of signing (dd/mm/yy) 
16/07/2020
 
 
Domicile (country) of Business Operations 
Latin America and The Caribbean
 
 
Domicile of Incorporation 
Curaçao
 
 
Principal Counterparty/ies  
LAAD Americas N.V. 
Latin American Agribusiness Development Corporation S.A. 
 
 
Project Name (if applicable)    
N/A
 
 
Financing Service
Loan
 
 
General description of transaction    
FinDev Canada seeks to provide LAAD Americas N.V. (“LAAD”) with a senior unsecured loan of up to US$20 million. The structure of the transaction is aligned with LAAD’s business model of providing medium-long-term financing to small and medium, privately-owned agribusiness companies that are export oriented.
 
 
Amount of Financial Support (anticipated/ actual) 
Up to USD 20M
 
 
Name of Project Sponsor Project Contact (with link to Environmental and Social Impact Assessment (ESIA)) --  if applicable    
TBD
 
 
Type of E&S Information Reviewed & Summary of Transaction 
 
 
Canadian Company Involved (if applicable) 
N/A

Bancoldex

Date of public notification (dd/mm/yy)  
11/06/2020 
 
 
Date of signing (dd/mm/yy) 
13/11/2020
 
 
Domicile (country) of Business Operations 
Colombia
 
 
Domicile of Incorporation 
Colombia
 
 
Principal Counterparty/ies  
Banco de Comercio Exterior de Colombia, S.A. (“Bancoldex”)
 
 
Project Name (if applicable)    
Bancoldex
 
 
Financing Service
Unsecured Term Loan
 
 
General description of transaction    
Unsecured Term Loan financing Bancoldex lending activities in Colombia in response to COVID-19.
 
 
Amount of Financial Support (anticipated/ actual) 
USD 20M
 
 
Name of Project Sponsor Project Contact (with link to Environmental and Social Impact Assessment (ESIA)) --  if applicable    
Banco de Comercio Exterior de Colombia, S.A.
 
 
Type of E&S Information Reviewed & Summary of Transaction 
 
 
Canadian Company Involved (if applicable) 
N/A

FirstRand

Date of public notification (dd/mm/yy)  
02/07/2020
 
 
Date of signing (dd/mm/yy) 
09/10/2020
 
 
Domicile (country) of Business Operations 
South Africa
 
 
Domicile of Incorporation 
South Africa
 
 
Principal Counterparty/ies  
FirstRand Bank Limited ("FirstRand")
 
 
Project Name (if applicable)    
FirstRand
 
 
Financing Service
Senior unsecured Loan
 
 
General description of transaction    
Senior debt to support the growth of FirstRand's lending activities, with a minimum of 30% of the proceeds going towards clients who meet any of the direct criteria of the 2X Challenge.
 
 
Amount of Financial Support (anticipated/ actual) 
USD 20M
 
 
Name of Project Sponsor Project Contact (with link to Environmental and Social Impact Assessment (ESIA)) --  if applicable    
N/A
 
 
Type of E&S Information Reviewed & Summary of Transaction 
 
 
Canadian Company Involved (if applicable) 
N/A

Banco Davivienda

Date of public notification (dd/mm/yy)  
26/08/2020
 
 
Date of signing (dd/mm/yy) 
14/01/2021
 
 
Domicile (country) of Business Operations 
Colombia
 
 
Domicile of Incorporation 
Colombia
 
 
Principal Counterparty/ies  
Banco Davivienda S.A. ("Davivienda")
 
 
Project Name (if applicable)    
Davivienda
 
 
Financing Service
Unsecured Subordinated Debt
 
 
General description of transaction    
Unsecured subordinated debt financing to support Davivienda's further on-lending to small and medium-sized enterprises (SME) and low-income homebuyers in Colombia
 
 
Amount of Financial Support (anticipated/ actual) 
USD 20M
 
 
Name of Project Sponsor Project Contact (with link to Environmental and Social Impact Assessment (ESIA)) --  if applicable    
Banco Davivienda S.A.
 
 
Type of E&S Information Reviewed & Summary of Transaction 
 
 
Canadian Company Involved (if applicable) 
N/A

Phatisa Food Fund

Date of public notification (dd/mm/yy)  
16/09/2020
 
 
Date of signing (dd/mm/yy) 
29/01/2021
 
 
Domicile (country) of Business Operations 
Multiple countries across Africa
 
 
Domicile of Incorporation 
Mauritius
 
 
Principal Counterparty/ies  
Phatisa Fund Managers 2 Limited
(the “General Partner”, or “GP”); Phatisa Group Limited (“Phatisa”, the “General Manager”); Actif Africains Investment Limited
 
 
Project Name (if applicable)    
Phatisa Food Fund 2 Parallel L.L.C (“PFF 2”)
 
 
Financing Service
Fund Investment
 
 
General description of transaction    
PFF 2 is a pan-African private equity fund seeking to service the African consumer, mainly from the bottom of the pyramid, around a mandate to “feed Africa” with the expansion of local food production and distribution.
 
 
Amount of Financial Support (anticipated/ actual) 
USD 10M
 
 
Name of Project Sponsor Project Contact (with link to Environmental and Social Impact Assessment (ESIA)) --  if applicable    
N/A
 
 
Type of E&S Information Reviewed & Summary of Transaction 
 
 
Canadian Company Involved (if applicable) 
N/A

AVLA Peru Compañía de Seguros S.A.

Date of public notification (dd/mm/yy)  
12/11/2020
 
 
Date of signing (dd/mm/yy) 
18/03/2021
 
 
Domicile (country) of Business Operations 
Peru
 
 
Domicile of Incorporation 
Peru
 
 
Principal Counterparty/ies  
Peru SME Debt I; UNO Capital Peru S.A.C. ("UNO"); AVLA Peru Cia. de Seguros S.A. ("AVLA Peru").
 
 
Project Name (if applicable)    
N/A
 
 
Financing Service
Debt
 
 
General description of transaction    
Debt to “Peru SME Debt I” financing small and medium sized enterprises in Peru originated by UNO Capital S.A.C. and guaranteed by AVLA Peru Compañía de Seguros. S.A..
 
 
Amount of Financial Support (anticipated/ actual) 
USD 20M
 
 
Name of Project Sponsor Project Contact (with link to Environmental and Social Impact Assessment (ESIA)) --  if applicable    
N/A
 
 
Type of E&S Information Reviewed & Summary of Transaction 
 
 
Canadian Company Involved (if applicable) 
N/A

Miro Forestry

Date of public notification (dd/mm/yy)  
17/11/2020
 
 
Date of signing (dd/mm/yy) 
14/01/2021
 
 
Domicile (country) of Business Operations 
United Kingdom
 
 
Domicile of Incorporation 
United Kingdom
 
 
Principal Counterparty/ies  
Miro Forestry Developments Limited ("Miro")
 
 
Project Name (if applicable)    
Miro Forestry
 
 
Financing Service
Equity
 
 
General description of transaction    
Equity investment to finance capital expenditures and expansion of operations, related to plantation expansion and wood processing manufacturing in Ghana and Sierra Leone. The transaction will be 2X eligible.
 
 
Amount of Financial Support (anticipated/ actual) 
USD 12M
 
 
Name of Project Sponsor Project Contact (with link to Environmental and Social Impact Assessment (ESIA)) --  if applicable    
N/A
 
 
Type of E&S Information Reviewed & Summary of Transaction 
 
 
Canadian Company Involved (if applicable) 
N/A

FEDECRÉDITO

Date of public notification (dd/mm/yy)  
07/12/2020
 
 
Date of signing (dd/mm/yy) 
27/08/2021
 
 
Domicile (country) of Business Operations 
El Salvador
 
 
Domicile of Incorporation 
El Salvador
 
 
Principal Counterparty/ies  
Federación de Cajas de Crédito y de Bancos de Los Trabajadores Sociedad Cooperativa De Responsabilidad Limitada De Capital Variable (“FEDECRÉDITO”)
 
 
Project Name (if applicable)    
FEDECRÉDITO
 
 
Financing Service
Debt
 
 
General description of transaction    
Senior secured loan facility for FEDECRÉDITO to support the expansion of lending to Micro, Small and Medium Enterprises in El Salvador, with a minimum of 40% of the funds going to women-owned MSMEs through funds on-lent by FEDECRÉDITO to its members. 
 
 
Amount of Financial Support (anticipated/ actual) 
USD 10M
 
 
Name of Project Sponsor Project Contact (with link to Environmental and Social Impact Assessment (ESIA)) --  if applicable    
Federación de Cajas de Crédito y de Bancos de Los Trabajadores Sociedad Cooperativa De Responsabilidad Limitada De Capital Variable
 
 
Type of E&S Information Reviewed & Summary of Transaction 
Coming soon 
 
 
Canadian Company Involved (if applicable) 
N/A

ETG

Date of public notification (dd/mm/yy)  
19/01/2021
 
 
Date of signing (dd/mm/yy) 
02/03/2021
 
 
Domicile (country) of Business Operations 
UAE (Borrower) - East Africa, West Africa, South Africa
 
 
Domicile of Incorporation 
UAE
 
 
Principal Counterparty/ies  
AGRI Commodities & Finance FZ-LLC ("ACF");
ETC Group;
ETG Commodities Ltd;
Export Trading Commodities PTE Ltd.
 
 
Project Name (if applicable)    
N/A
 
 
Financing Service
Debt
 
 
General description of transaction    
Unsecured term loan financing AGRI Commodities & Finance FZ-LLC's working capital needs in Sub-Saharan Africa. The loan is guaranteed by ETC Group, ETG Commodities Ltd and Export Trading Commodities PTE Ltd.
 
 
Amount of Financial Support (anticipated/ actual) 
USD 25M
 
 
Name of Project Sponsor Project Contact (with link to Environmental and Social Impact Assessment (ESIA)) --  if applicable    
FinDev Canada classifies this transaction to be Category A which is defined by the IFC Performance Standards as business activities with potential significant adverse environmental and social risks and/or impacts that are diverse, irreversible, or unprecedented. Risks in this transaction are driven by ETG's sourcing of high-risk commodities in developing markets where there are known risks or child labour, forced labour, and adverse environmental impacts. 

Environmental and social due diligence is currently underway in accordance with FinDev Canada's Environmental & Social (E&S) Policy and will include a review of ETG's E&S risk management systems, practices within their operations and in their supply chains to ensure compliance with appropriate E&S benchmarks, including IFC Performance Standards.

Client Contact: Alok Mishra, Group Head-Sustainability
alok.mishra@etgworld.com 
M (India): +91 7710037481

View the Environmental & Social Risk Assessment here.
 
 
Type of E&S Information Reviewed & Summary of Transaction 
 
 
Canadian Company Involved (if applicable) 
N/A

Alianza del Valle

Date of public notification (dd/mm/yy)  
23/02/2021
 
 
Date of signing (dd/mm/yy) 
29/03/2021
 
 
Domicile (country) of Business Operations 
Ecuador
 
 
Domicile of Incorporation 
Ecuador
 
 
Principal Counterparty/ies  
Cooperativa de Ahorro y Crédito Alianza del Valle Limitada
 
 
Project Name (if applicable)    
N/A
 
 
Financing Service
Debt
 
 
General description of transaction    
Unsecured debt facility to finance Alianza del Valle's operations growth in serving its members through microfinance and personal loans. 
 
 
Amount of Financial Support (anticipated/ actual) 
USD 7.5M
 
 
Name of Project Sponsor Project Contact (with link to Environmental and Social Impact Assessment (ESIA)) --  if applicable    
N/A
 
 
 
Type of E&S Information Reviewed & Summary of Transaction 
 
 
Canadian Company Involved (if applicable) 
N/A

Cooperativa de Ahorro y Crédito Pacifico

Date of public notification (dd/mm/yy)  
26/02/2021
 
 
Date of signing (dd/mm/yy) 
TBD
 
 
Domicile (country) of Business Operations 
Peru
 
 
Domicile of Incorporation 
Peru
 
 
Principal Counterparty/ies  
Cooperativa de Ahorro y Crédito Pacifico ("COOPAC")
 
 
Project Name (if applicable)    
N/A
 
 
Financing Service
Debt
 
 
General description of transaction    
Unsecured senior term loan financing Copperative de Ahorro y Créditro Pacifico's small and medium sized enterprises lending activities growth in Peru. 
 
 
Amount of Financial Support (anticipated/ actual) 
USD 10M
 
 
Name of Project Sponsor Project Contact (with link to Environmental and Social Impact Assessment (ESIA)) --  if applicable    
N/A
 
 
 
Type of E&S Information Reviewed & Summary of Transaction 
Coming soon 
 
 
Canadian Company Involved (if applicable) 
N/A

JMMB Bank

Date of public notification (dd/mm/yy)  
02/03/2021
 
 
Date of signing (dd/mm/yy) 
TBD
 
 
Domicile (country) of Business Operations 
Jamaica
 
 
Domicile of Incorporation 
Jamaica
 
 
Principal Counterparty/ies  
JMMB Bank (Jamaica) Limited ("JMMB"); JMMB Group Limited
 
 
Project Name (if applicable)    
N/A
 
 
Financing Service
Debt
 
 
General description of transaction    
Unsecured senior term loan financing JMMB Bank (Jamaica) Limited's small and medium-sized enterprises lending activities growth in Jamaica. This transaction is guaranteed by JMMB Group Limited.
 
 
Amount of Financial Support (anticipated/ actual) 
USD 20M
 
 
Name of Project Sponsor Project Contact (with link to Environmental and Social Impact Assessment (ESIA)) --  if applicable    
N/A
 
 
 
Type of E&S Information Reviewed & Summary of Transaction 
Coming soon 
 
 
Canadian Company Involved (if applicable) 
N/A

DPI II

Date of public notification (dd/mm/yy)  
30/04/2021 
 
 
Date of signing (dd/mm/yy) 
TBD
 
 
Domicile (country) of Business Operations 
Multiple countries across Africa
 
 
Domicile of Incorporation 
Mauritius
 
 
Principal Counterparty/ies  
ADP III GP Mauritius Limited (the "General Partner")
 
Development Partners International ("DPI" or the "Investment Adviser")
 
 
Project Name (if applicable)    
African Development Partners III Mauritius L.P. ("ADP III")
 
 
Financing Service
Fund Investment
 
 
General description of transaction    
ADP III is a private equity fund providing growth capital to support the expansion or private companies across Africa. The Fund has strong potential to provide positive environmental impact, local market development and contribute to women's economic empowerment to the investee companies
 
 
Amount of Financial Support (anticipated/ actual) 
FinDev Canada has a current commitment of US$ 20,000,000. We are proposing an additional investment of US$ 10,000,000, bringing the total commitment to US$ 30,000,000.
 
 
Name of Project Sponsor Project Contact (with link to Environmental and Social Impact Assessment (ESIA)) --  if applicable    
N/A
 
 
Type of E&S Information Reviewed & Summary of Transaction 
All relevant information required to carry out the due diligence relevant to the investment. This included, but was not limited to, financial statements, fund model, financial assumptions, Limited Partnership Agreement, Private Placement Memorandum, Quarterly Investor reports, etc. 
ADP III is an investment fund with a mandate to provide growth capital to support the expansion of established and growing private companies across Africa with an emphasis on those targeting the emerging middle class. 
The Fund has strong potential to contribute to women's economic empowerment at the investee companies, provide local market development and provide positive environmental impact. 

Transaction Disclosure Summary to follow
.
 
 
Canadian Company Involved (if applicable) 
N/A

Banco Sofisa

Date of public notification (dd/mm/yy)  
28/05/2021
 
 
Date of signing (dd/mm/yy) 
TBD
 
 
Domicile (country) of Business Operations 
Brazil
 
 
Domicile of Incorporation 
Brazil
 
 
Principal Counterparty/ies  
Banco Sofisa S.A.
 
 
Project Name (if applicable)    
N/A
 
 
Financing Service
Unsecured Senior Debt
 
 
General description of transaction    
Support the growth of Sofisa’s SME portfolio in Brazil and bring diversification to its funding sources. 30% of proceeds will be directed toward Women-owned/led SMEs
 
 
Amount of Financial Support (anticipated/ actual) 
USD 20M
 
 
Name of Project Sponsor Project Contact (with link to Environmental and Social Impact Assessment (ESIA)) --  if applicable    
N/A
 
 
Type of E&S Information Reviewed & Summary of Transaction 
Coming Soon
 
 
Canadian Company Involved (if applicable) 
N/A

TDB

Date of public notification (dd/mm/yy)  
29/06/2021
 
 
Date of signing (dd/mm/yy) 
TBD
 
 
Member States 
Burundi, Comoros, Democratic Republic of Congo, Djibouti, Egypt, Eritrea, Ethiopia, Eswatini, Kenya, Madagascar, Malawi, Mauritius, Mozambique, Rwanda, Seychelles, South Sudan, Somalia, Sudan, Tanzania, Uganda, Zimbabwe, Zambia
 
 
Domicile of Headquarters 
Mauritius & Burundi
 
 
Principal Counterparty/ies  
Eastern and Southern African Trade and Development Bank
 
 
Project Name (if applicable)    
TDB
 
 
Financing Service
Senior unsecured loan
 
 
General description of transaction    
Senior unsecured loan to support TDB's lending activities in Eastern and Southern Africa and bring diversification to its funding sources. The facility excludes any application of funding for companies, activities, or individuals subject to Sanctions among other exclusions.
 
 
Amount of Financial Support (anticipated/ actual) 
USD 20M
 
 
Name of Project Sponsor Project Contact (with link to Environmental and Social Impact Assessment (ESIA)) --  if applicable    
N/A
 
 
Type of E&S Information Reviewed & Summary of Transaction 
Coming Soon
 
 
Canadian Company Involved (if applicable) 
N/A

BNCR

Date of public notification (dd/mm/yy)  
07/07/2021
 
 
Date of signing (dd/mm/yy) 
TBD
 
 
Domicile (country) of Business Operations 
Costa Rica
 
 
Domicile of Incorporation 
Costa Rica
 
 
Principal Counterparty/ies  
Banco Nacional de Costa Rica ("BNCR")
 
 
Project Name (if applicable)    
BNCR
 
 
Financing Service
Debt
 
 
General description of transaction    
Social bond to BNCR to support the growth of its micro, small and medium-sized enterprises ("MSMEs") in Costa Rica, with a minimum of 40% of the funds going to women-owned MSMEs.
 
 
Amount of Financial Support (anticipated/ actual) 
USD 30M
 
 
Name of Project Sponsor Project Contact (with link to Environmental and Social Impact Assessment (ESIA)) --  if applicable    
Banco Nacional de Costa Rica
 
 
Type of E&S Information Reviewed & Summary of Transaction 
Coming Soon
 
 
 
Canadian Company Involved (if applicable) 
N/A

PC Capital

Date of public notification (dd/mm/yy)  
14/07/2021
 
 
Date of signing (dd/mm/yy) 
31/08/2021
 
 
Domicile (country) of Business Operations 
Mexico
 
 
Domicile of Incorporation 
Canada
 
 
Principal Counterparty/ies  
PC Capital General Partner II, S.A.P.I. de CV. (the “General Partner”); PC Capital Fund Administration INC and  PC Capital Support S.C.  (together the “Investment Managers”)
 
 
Project Name (if applicable)    
PC Capital Development II, L.P. (“PC Capital II”)
 
 
Financing Service
Fund Investment
 
 
General description of transaction    
Equity investment into PC Capital II, a private equity fund providing growth capital to support small and medium sized enterprises operating primarily in Mexico.
 
 
Amount of Financial Support (anticipated/ actual) 
Up to USD 12.5M
 
 
Name of Project Sponsor Project Contact (with link to Environmental and Social Impact Assessment (ESIA)) --  if applicable    
N/A
 
 
Type of E&S Information Reviewed & Summary of Transaction 
Coming Soon
 
 
 
Canadian Company Involved (if applicable) 
N/A

ETI

Date of public notification (dd/mm/yy)  
28/07/2021
 
 
Date of signing (dd/mm/yy) 
TBD
 
 
Domicile (country) of Business Operations 
Togo
 
 
Domicile of Incorporation 
Togo
 
 
Principal Counterparty/ies  
1. Ecobank Transnational Incorporated (ETI) 2. Ecobank Group.
 
 
Project Name (if applicable)    
N/A
 
 
Financing Service
Debt
 
 
General description of transaction    
This transaction consists of a USD 20 million senior unsecured term loan to support the growth of ETI, the parent company of the Ecobank Group, the leading pan-African banking group, present in 33 countries across Sub-Subharan Africa.
 
 
Amount of Financial Support (anticipated/ actual) 
USD 20M
 
 
Name of Project Sponsor Project Contact (with link to Environmental and Social Impact Assessment (ESIA)) --  if applicable    
N/A
 
 
Type of E&S Information Reviewed & Summary of Transaction 
Coming Soon
 
 
 
Canadian Company Involved (if applicable) 
N/A

EEGF

Date of public notification (dd/mm/yy)  
29/07/2021
 
 
Date of signing (dd/mm/yy) 
TBD
 
 
Domicile (country) of Business Operations 
Multiple Countries in Sub-Saharan Africa
 
 
Domicile of Incorporation 
Luxembourg
 
 
Principal Counterparty/ies  
Triple Jump B.V. ("Fund Manager"); Persistent Energy Capital ("Advisor")
 
 
Project Name (if applicable)    
SDG Investment Fund S.A., SICAV-RAIF through its sub fund, the Energy Entrepreneur Growth Fund ("EEGF")
 
 
Financing Service
Fund Investment
 
 
General description of transaction    
Subscription for senior notes in EEGF, a fund focused on investing in the access to energy sector in Sub-Saharan Africa.
 
 
Amount of Financial Support (anticipated/ actual) 
Up to USD 3M
 
 
Name of Project Sponsor Project Contact (with link to Environmental and Social Impact Assessment (ESIA)) --  if applicable    
N/A
 
 
Type of E&S Information Reviewed & Summary of Transaction 
Coming Soon
 
 
 
Canadian Company Involved (if applicable) 
N/A

Summary of travel and hospitality expenses for the Managing Director and for senior executives:

Managing Director

2018

2019

2020

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Q3

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2021

Board of Directors

2018

2019

2020

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2021

Q1

Q2