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 |
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 Advisor") |
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| 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 |
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.
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 Advisor") |
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| 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. |
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| 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 I
| 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 | Available here |
| 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) | 23/11/2022 |
| 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 | Available here |
| 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) | 09/05/2023 |
| 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 | Available here |
| 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) | 07/10/2022 |
| 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 | Available here |
| Canadian Company Involved (if applicable) | N/A |
BOAD
| Date of public notification (dd/mm/yy) | 21/09/2022 |
| Date of signing (dd/mm/yy) | TBD |
| Country(ies) of Operation | Togo |
| Domicile | Togo |
| Principal Counterparty/ies | Banque Ouest Africaine de Developpement |
| Project Name (if applicable) | BOAD |
| Financing Service | Debt |
| General description of transaction | Debt facility to support BOAD's lending activities to the private sector, specifically small and medium-sized enterprises and agribusinesses in the West African Monetary Union. At least 30% of FinDev Canada's financing will be earmarked to support women owned or led enterprises. |
| Amount of Financial Support (anticipated/ actual) | Up to EUR 30M |
| Name of Project Sponsor Project Contact (with link to Environmental and Social Impact Assessment (ESIA)) -- if applicable |
Eliane Kouassigan, Partnerships Manager ekouassigan@Boad.org |
| Type of E&S Information Reviewed & Summary of Transaction | Available here |
| Canadian Company Involved (if applicable) | N/A |
Stanbic IBTC Bank Plc
| Date of public notification (dd/mm/yy) | 31/10/2022 |
| Date of signing (dd/mm/yy) | TBD |
| Country(ies) of Operation | Nigeria |
| Domicile | Nigeria |
| Principal Counterparty/ies | Stanbic IBTC Bank Plc |
| Project Name (if applicable) | |
| Financing Service | Senior Unsecured Loan |
| General description of transaction | Senior unsecured loan to support Stanbic IBTC Bank Plc's lending activities in Nigeria. |
| Amount of Financial Support (anticipated/ actual) | Up to US$ 40M |
| Name of Project Sponsor Project Contact (with link to Environmental and Social Impact Assessment (ESIA)) -- if applicable |
Stanbic IBTC Bank Plc |
| Type of E&S Information Reviewed & Summary of Transaction | Coming soon |
| Canadian Company Involved (if applicable) | N/A |
Cooprogreso
| Date of public notification (dd/mm/yy) | 02/11/2022 |
| Date of signing (dd/mm/yy) | 12/12/2022 |
| 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 | Senior Unsecured Loan |
| General description of transaction | Senior unsecured loan to finance Cooprogreso's growth and to increase their financing to women microentrepreneurs, in partiular to the agriculture sector. |
| Amount of Financial Support (anticipated/ actual) | Up to US$ 16.5M, with US$ 6.5M from the 2X Canada Facility |
| 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 |
ACA
| Date of public notification (dd/mm/yy) | 14/11/2022 |
| Date of signing (dd/mm/yy) | 24/02/2023 |
| Country(ies) of Operation | Argentina |
| Domicile | Argentina |
| Principal Counterparty/ies |
Asociación de Cooperativas Argentinas Cooperativa Limitada ("the borrower") Fisway S.A. ("the guarantor") Nederlandse Financierings-Maatschappij voor Ontwikkelingslanden N.V. ("FMO") Coöperatieve Rabobank U.A. ("Rabobank") |
| Project Name (if applicable) | Asociación de Cooperativas Argentinas Cooperativa Limitada |
| Financing Service | Senior Secured Loan |
| General description of transaction | Senior secured loan to Asociación de Cooperativas Argentinas Cooperativa Limitada which brings together 143 cooperatives to support the growth of over 43,000 farmers in Argentina. Loan proceeds will be used towards ongoing and planned capital expenditures and to support ACA's exporting activities. |
| Amount of Financial Support (anticipated/ actual) | Up to US$ 20M |
| Name of Project Sponsor Project Contact (with link to Environmental and Social Impact Assessment (ESIA)) -- if applicable |
Asociación de Cooperativas Argentinas Cooperativa Limitada |
| Type of E&S Information Reviewed & Summary of Transaction | Available here |
| Canadian Company Involved (if applicable) | N/A |
ETC Group II
| Date of public notification (dd/mm/yy) | 14/11/2022 |
| Date of signing (dd/mm/yy) | 28/12/2022 |
| Country(ies) of Operation | Africa, Americas, Asia, Europe |
| Domicile | Mauritius |
| Principal Counterparty/ies |
ETC Group Ltd ("ETC") |
| Project Name (if applicable) | ETC |
| Financing Service | Term Loan |
| General description of transaction | Up to USD 60M 5-year fully amortizing term loan to ETC Group. Proceeds will be used for general corporate purposes. |
| Amount of Financial Support (anticipated/ actual) | Up to USD 60M |
| 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 | Available here |
| Canadian Company Involved (if applicable) | N/A |
Genneia S.A
| Date of public notification (dd/mm/yy) | 15/12/2022 |
| Date of signing (dd/mm/yy) | 17/02/2023 |
| Country(ies) of Operation | Argentina |
| Domicile | Argentina |
| Principal Counterparty/ies |
Genneia S.A ("Genneia") |
| Project Name (if applicable) | Tocota III, and La Elbita I & II |
| Financing Service | Senior corporate loan |
| General description of transaction | Loan to Genneia to fund part of the development of two greenfield renewable energy projects in Argentina. The two projects are Tocota III, a 60MW solar farm and La Elbita I&II, a 100MW and 40MW wind farms. |
| Amount of Financial Support (anticipated/ actual) | Up to USD 40M |
| Name of Project Sponsor Project Contact (with link to Environmental and Social Impact Assessment (ESIA)) -- if applicable |
Sofia Fernandez Madero Environmental Analyst Sofia.fernandez@genneia.com.ar
Carolina Langan Head of Sustainability |
| Type of E&S Information Reviewed & Summary of Transaction | Available here |
| Canadian Company Involved (if applicable) | N/A |
Banco De Bogotá S.A.
Pre-signing Disclosures:
| Client name (including name of other relevant parties, such as project sponsor, fund manager/general partner, as applicable) | Banco De Bogotá S.A. (the “Bank” or the “Issuer”) |
| Date of public notification (dd/mm/yy) | 30/01/23 |
| Signing date (dd/mm/yy) | 15/03/23 |
| Location (i.e., country/ies) of of business operations | Colombia |
| Domicile (i.e., location of business organization/incorporation, including other relevant parties, such as project sponsor, fund manager/general partner, as applicable) |
Colombia |
| Type of financing product | Debt |
| General description of transaction/project/ business activity | Subscription to a subordinated Basel III Tier 2 compliant sustainable bond (the “Bond”) issued by Banco de Bogota S.A. The proceeds of the Bond will support the growth of the Bank’s green portfolio and social portfolio with a focus on Micro, Small and Medium-Sized Enterprises. |
| Amount and currency of financing product (i.e., expected or actual) | Up to US$ 50M |
| Canadian company involved (yes/no) | No |
Post-signing Disclosures:
| No. | Category | Information |
| A. | Transaction summary, outlining the E&S assessment, as well as the anticipated development impact of the Transaction | Coming soon |
AIIF4
| Date of public notification (dd/mm/yy) | 31/03/2023 |
| Date of signing (dd/mm/yy) | 19/05/2023 |
| Country(ies) of Operation | Multiple countries across Africa |
| Domicile | South Africa |
| Principal Counterparty/ies |
African Infrastructure Investment Fund 4 Partnership |
| Project Name (if applicable) | N/A |
| Financing Service | Fund Investment |
| General description of transaction | USD 26M equity participation in AIIF4, a fund that will make equity and equity-related investments across Africa in three key infrastructure themes: (1) digitization (2) energy transition (3) urbanization. |
| Amount of Financial Support (anticipated/ actual) | Up to USD 26M |
| 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 Bolivariano
Pre-signing Disclosures:
| Client name (including name of other relevant parties, such as project sponsor, fund manager/general partner, as applicable) | Banco Bolivariano C.A. (the “Bank” or the “Issuer”) |
| Date of public notification (dd/mm/yy) | 03/04/23 |
| Signing date (dd/mm/yy) | Coming soon |
| Location (i.e., country/ies) of of business operations | Ecuador |
| Domicile (i.e., location of business organization/incorporation, including other relevant parties, such as project sponsor, fund manager/general partner, as applicable) |
Ecuador |
| Type of financing product | Debt |
| General description of transaction/project/ business activity | Subscription to thematic “Blue” bonds issued by Banco Bolivariano (the “Bond”). The proceeds of the Bond will be used to finance the Issuer’s blue projects aiming to solve water-related challenges. |
| Amount and currency of financing product (i.e., expected or actual) | Up to US$ 40M |
| Canadian company involved (yes/no) | No |
Post-signing Disclosures:
| No. | Category | Information |
| A. | Transaction summary, outlining the E&S assessment, as well as the anticipated development impact of the Transaction | Coming soon |
M-KOPA 3
Pre-signing Disclosures:
| Client name (including name of other relevant parties, such as project sponsor, fund manager/general partner, as applicable) | M-KOPA Holdings Limited (“M-KOPA” or the “Company”) |
| Date of public notification (dd/mm/yy) | 19/05/23 |
| Signing date (dd/mm/yy) | Coming soon |
| Location (i.e., country/ies) of of business operations | Kenya, Uganda, Ghana, Nigeria |
| Domicile (i.e., location of business organization/incorporation, including other relevant parties, such as project sponsor, fund manager/general partner, as applicable) |
United Kingdom |
| Type of financing product | Equity |
| General description of transaction/project/ business activity | Subscription of up to US$ 20M in mandatory convertible notes issued by M-KOPA (“Convertible Notes”). The proceeds for the Convertible Notes will be used to support M-KOPA in executing on its expansion strategy. |
| Amount and currency of financing product (i.e., expected or actual) | Up to US$ 20M |
| Canadian company involved (yes/no) | No |
Post-signing Disclosures:
| No. | Category | Information |
| A. | Transaction summary, outlining the E&S assessment, as well as the anticipated development impact of the Transaction | Completed by FinDev Canada, and reviewed by the Company prior to publication |
Darby International Capital
Pre-signing Disclosures:
| Client name (including name of other relevant parties, such as project sponsor, fund manager/general partner, as applicable) | DIC LATIN AMERICAN FUND IV, L.P. (the “Fund”) DIC LATIN AMERICAN FUND IV GP, LLC (the “General Partner”) Darby International Capital LLC (the “Investment Advisor”) |
| Date of public notification (dd/mm/yy) | 03/08/2023 |
| Signing date (dd/mm/yy) | TBD |
| Location (i.e., country/ies) of of business operations | Multiple countries in Latin America and the Caribbean |
| Domicile (i.e., location of business organization/incorporation, including other relevant parties, such as project sponsor, fund manager/general partner, as applicable) |
Ontario, Canada |
| Type of Financing and Investment Activity | Fund Investment |
| General description of transaction/project/ business activity | Up to US$ 50M participation in Darby IV, a fund that will provide tailored long-term financial solutions to mid-size companies within LAC. The Fund is a climate focused fund, targeting 50% of invested capital towards climate mitigation and adaptation. |
| Amount and currency of financing product (i.e., expected or actual) | Up to US$ 50M |
| Canadian company involved (yes/no) | Yes, the Fund is domiciled in Canada |
| Sector | Financial Intermediary |
| Anticipated E&S risk category | F1-2 |
| Anticipated development impact priorities | Climate Change Mitigation & Adaptation and Market Development |
Post-signing Disclosures:
| No. | Category | Information |
| A. | Transaction Disclosure Summary, outlining the E&S assessment, as well as the anticipated development impact of the Transaction | TBD |
| B. | Summary of ESAP (for Category A Transactions or FI-1 Transactions only) (if applicable) | TBD |
Archived Transactions
Listed below are transactions in which we signed but are now closed (i.e. client repaid loan, equity stake was sold, etc.)
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 |
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 |
Summary of travel and hospitality expenses for the Chief Executive Officer and for the Board of Directors: