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
Country(ies) of Operation Kenya    
Domicile 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  Available here  
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
Country(ies) of Operation Multiple Countries    
Domicile 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  Available here  
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
Country(ies) of Operation United States of America    
Domicile 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  Available here 
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
Country(ies) of Operation Peru    
Domicile 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  Available here
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
Country(ies) of Operation South Africa and Nigeria    
Domicile 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  Available Here 
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
Country(ies) of Operation Sub-Saharan Africa
Domicile 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  Available Here 
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
Country(ies) of Operation Canada
Domicile 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  Available here
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
Country(ies) of Operation Ecuador
Domicile 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  Available Here
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
Country(ies) of Operation  Pakistan, Malawi, Kenya, Nigeria, Honduras
Domicile 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  Available Here
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
Country(ies) of Operation Ecuador
Domicile 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  Available Here
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
Country(ies) of Operation  Kenya
Domicile 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  Available Here
Canadian Company Involved (if applicable)  N/A

MFX

 

Date of public notification (dd/mm/yy)   17/02/2020 
Date of signing (dd/mm/yy)  21/12/2021
Country(ies) of Operation United States
Domicile 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  Available here
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
Country(ies) of Operation Multiple countries across Africa
Domicile 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  Available Here
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
Country(ies) of Operation Panama
Domicile 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  Available Here
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
Country(ies) of Operation Latin America and The Caribbean
Domicile 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  Available here 
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
Country(ies) of Operation Colombia
Domicile 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  Available here 
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
Country(ies) of Operation South Africa
Domicile 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  Available Here
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
Country(ies) of Operation Colombia
Domicile 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  Available Here
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
Country(ies) of Operation Multiple countries across Africa
Domicile 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  Available here 
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
Country(ies) of Operation Peru
Domicile 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  Available here 
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
Country(ies) of Operation Ghana and Sierre Leone
Domicile 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  Available here
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
Country(ies) of Operation El Salvador
Domicile 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  Available here 
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
Country(ies) of Operation UAE (Borrower) - East Africa, West Africa, South Africa
Domicile 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 Corporate Environmental & Social Management System here. 

Type of E&S Information Reviewed & Summary of Transaction  Available Here
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
Country(ies) of Operation Ecuador
Domicile 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  Available Here 
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)  01/06/2021
Country(ies) of Operation Peru
Domicile 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  Available Here
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)  30/12/2021
Country(ies) of Operation Jamaica
Domicile 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  Available here
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)  30/06/2021
Country(ies) of Operation Multiple countries across Africa
Domicile 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 available here
.
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)  02/07/2021
Country(ies) of Operation Brazil
Domicile 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  Available here
Canadian Company Involved (if applicable)  N/A

TDB

Date of public notification (dd/mm/yy)   29/06/2021
Date of signing (dd/mm/yy)  3/11/2021
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  Available here
Canadian Company Involved (if applicable)  N/A

BNCR

Date of public notification (dd/mm/yy)   07/07/2021
Date of signing (dd/mm/yy)  04/02/2022
Country(ies) of Operation Costa Rica
Domicile 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  Available here
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
Country(ies) of Operation Mexico
Domicile 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  Available here
 
Canadian Company Involved (if applicable)  N/A

ETI

Date of public notification (dd/mm/yy)   28/07/2021
Date of signing (dd/mm/yy)  23/12/2021
Country(ies) of Operation Togo
Domicile Togo
Principal Counterparty/ies   Ecobank Transnational Incorporated (ETI) 
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 35 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  Available here
Canadian Company Involved (if applicable)  N/A

EEGF

Date of public notification (dd/mm/yy)   01/10/2021
Date of signing (dd/mm/yy)  28/12/2021
Country(ies) of Operation Multiple Countries in Sub-Saharan Africa
Domicile 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 Entrepreneurs 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 13M inclusive of USD 5M junior notes on behalf of the 2X Canada: Inclusive economic recovery facility, an initiative funded by the Government of Canada through Global Affairs Canada .
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  Available here 
 
Canadian Company Involved (if applicable)  N/A

Banco Promerica de Costa Rica S.A.

Date of public notification (dd/mm/yy)   21/09/2021
Date of signing (dd/mm/yy)  26/11/2021
Country(ies) of Operation Costa Rica
Domicile Costa Rica
Principal Counterparty/ies   Banco Promerica de Costa Rica S.A.
Project Name (if applicable)     Promerica Costa Rica
Financing Service Debt
General description of transaction     Support the growth of Banco de Costa Rica’s lending activities to SMEs. In addition, at least 30% of the loan will support women-owned or led businesses as defined by the 2X Criteria, and 30% of the loan will support green projects.
Amount of Financial Support (anticipated/ actual)  Up to USD 15M
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  Available here 
Canadian Company Involved (if applicable)  N/A

CASEIF IV

Date of public notification (dd/mm/yy)   29/09/2021
Date of signing (dd/mm/yy)  14/12/2021
Country(ies) of Operation Central America, the Dominican Republic, and Colombia.
Domicile Ontario, Canada
Principal Counterparty/ies   CASEIF IV L.P.
Project Name (if applicable)     CASEIF IV
Financing Service Fund Investment
General description of transaction     CASEIF IV will provide growth capital and structured financing (mezzanine debt) to small and medium-sized companies with high growth potential in Central America, the Dominican Republic, and Colombia.
Amount of Financial Support (anticipated/ actual)  Up to USD 8M
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  Available here
 
Canadian Company Involved (if applicable)  N/A

ETC Group

Date of public notification (dd/mm/yy)   14/01/2022
Date of signing (dd/mm/yy)  [TBD]
Country(ies) of Operation Africa, Asia, Americas, Europe.
Domicile Mauritius
Principal Counterparty/ies   Due to capital markets restrictions, limited disclosure is possible at this time.
Project Name (if applicable)     N/A
Financing Service Debt
General description of transaction     Potential participation alongside other investors and DFIs in a debt transaction in support of a leading agri-business company.
Amount of Financial Support (anticipated/ actual)  Up to US$ 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.
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 the company’s risk management systems, practices within their operations and in their supply chains to ensure compliance with appropriate E&S benchmarks, including the IFC Performance Standards.
Type of E&S Information Reviewed & Summary of Transaction  Due to capital markets restrictions, limited disclosure is possible at this time.
Canadian Company Involved (if applicable)  N/A

Locfund Next L.P.

Date of public notification (dd/mm/yy)   07/02/2022
Date of signing (dd/mm/yy)  10/06/2022
Country(ies) of Operation Latin America and the Caribbean
Domicile Ontario, Canada
Principal Counterparty/ies   Bolivian Investment Management Ltd. (“BIM” or the “Manager”); BIM Microfinance NEXT LLC (“GP”)
Project Name (if applicable)     Locfund Next L.P.
Financing Service Fund Investment
General description of transaction     Locfund Next is a permanent regional investment vehicle dedicated to providing local currency financing and supporting digital transformation to Tier 2 and Tier 3 micro finance institutions in Latin America and Caribbean.
Amount of Financial Support (anticipated/ actual)  Up to USD 7.5M Senior Loan from FinDev Canada
&
Up to USD 7.5M Equity Investment from the 2X Canada: Inclusive Economic Recovery Facility, an initiative funded by the Government of Canada through Global Affairs Canada
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  Available here
Canadian Company Involved (if applicable)  N/A

Adenia Capital (V)

Date of public notification (dd/mm/yy)   14/06/2022
Date of signing (dd/mm/yy)  30/09/2022
Country(ies) of Operation Multiple countries across Africa
Domicile Mauritius
Principal Counterparty/ies   Adenia Capital (V) L.P. (“AC V” or “the Fund”)
Project Name (if applicable)     Adenia Capital (V)
Financing Service Fund Investment
General description of transaction     AC V will provide growth capital through making equity and quasi-equity investments primarily for control positions in medium-sized companies whose principal place of business are situated in or have substantial connections to Africa.
Amount of Financial Support (anticipated/ actual)  Up to USD 30M
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

Banco de Occidente S.A.

Date of public notification (dd/mm/yy)   30/06/2022
Date of signing (dd/mm/yy)  TBD
Country(ies) of Operation Colombia
Domicile Colombia
Principal Counterparty/ies   Banco de Occidente S.A.
Project Name (if applicable)     Banco de Occidente
Financing Service Unsecured Subordinated Debt
General description of transaction     Subordinated unsecured term loan to support Banco de Occidente's further on-lending to small and medium-sized enterprises (SMEs) in Colombia.
Amount of Financial Support (anticipated/ actual)  Up to USD 30M
Name of Project Sponsor Project Contact (with link to Environmental and Social Impact Assessment (ESIA)) --  if applicable     Banco de Occidente S.A.
Type of E&S Information Reviewed & Summary of Transaction  TBD
Canadian Company Involved (if applicable)  N/A

Maranatha Energy Investment S.R.L.

Date of public notification (dd/mm/yy)   20/07/2022
Date of signing (dd/mm/yy)  TBD
Country(ies) of Operation Dominican Republic
Domicile Dominican Republic
Principal Counterparty/ies   CO2glober A.G. and Romana Enterprise S.R.L (“Renter”)
Project Name (if applicable)     Maranatha Energy Investment S.R.L.
Financing Service Debt
General description of transaction     Maranatha Energy Investment S.R.L. is a special purposed vehicle domiciled in Dominican Republic that will construct and operate a ~24MW, two-phase photovoltaic plant in the Dominican Republic.
Amount of Financial Support (anticipated/ actual)  Up to USD 18M Senior Loan from FinDev Canada
Name of Project Sponsor Project Contact (with link to Environmental and Social Impact Assessment (ESIA)) --  if applicable    

Paola Mora, E&S Leader

pm@co2glober.com

+41 71 571 89 23

 

See Environmental and Social Impact Assessment (DIA) here

Type of E&S Information Reviewed & Summary of Transaction  TBD
Canadian Company Involved (if applicable)  N/A

Miro Forestry Developments Limited

Date of public notification (dd/mm/yy)   01/09/2022
Date of signing (dd/mm/yy)  TBD
Country(ies) of Operation Ghana and Sierra Leone
Domicile United Kingdom
Principal Counterparty/ies   Miro Forestry Developments Limited ("Miro")
Project Name (if applicable)     Miro Forestry
Financing Service Preferred Equity
General description of transaction     Preferred Equity investment to Miro to fund the development and expansion of its industrial wood processing factories in Ghana and Sierra Leone, as well as to continue the development and management of its forestry plantations. 
Amount of Financial Support (anticipated/ actual)  Up to USD 6M
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 Chief Executive Officer and for the Board of Directors:

Chief Executive Officer

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2020

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2021

Board of Directors

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2020

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2021

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