Transparency and disclosure

Transparency Policy and Approach

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

Disclosure Policy

FinDev Canada is committed to transparency about its operations, strategies and policies. At the same time, FinDev Canada recognizes the requirements of a responsible financial institution to protect the commercially sensitive and confidential business and financial information of its clients. FinDev Canada is guided by a Transparency Policy that governs the disclosure of information. 

Disclosure of Aggregate Data

Aggregate data is reported quarterly on the volume of business supported by FinDev Canada against a number of elements: industry sectors, strategy goals, development impacts, geographic areas and types of financial services provided.

No data available yet.

Corporate plan

FinDev Canada's 2018 Corporate Plan as tabled in Parliament is available for consultation below:

Disclosure of Transactions

Information on individual transactions under consideration, as well as those supported by FinDev Canada can be found below. If we are unable to provide public notification 30 days in advance of the support being awarded a justification is provided.

Individual Transactions:

M-KOPA, LLC

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

Climate Investor One

 

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

 

EcoEnterprises III, L.P.

 

Date of public notification (dd/mm/yy)  
10/04/2019  
 
 
Date of signing (dd/mm/yy) 
21/05/2019
 
 
Domicile (country) of Business Operations 
United States of America    
 
 
Domicile of Incorporation 
Ireland     
 
 
Principal Counterparty/ies  
EcoEnterprises III, L.P.  
 
 
Project Name (if applicable)    
EcoEnterprises III
 
 
Financing Service
Fund Investment
 
 
General description of transaction    
EcoEnterprises III is an investment fund that is providing capital to bio diversity based growth SMEs operating in sensitive ecosystems in Latin America.  The fund is managed by GEC EcoEnterprises Management, a specialist fund manager dedicated to securing a sustainable future through impactful investing.
 
 
Amount of Financial Support (anticipated/ actual) 
USD 12.5 million
 
 
Name of Project Sponsor Project Contact (with link to Environmental and Social Impact Assessment (ESIA)) --  if applicable    
GEC EcoEnterprises Management, LLC
 
 
Type of ESG Information Reviewed & Summary of Transaction 
 
 
Canadian Company Involved (if applicable) 
N/A

 

Danper Agrícola La Venturosa S.A.C.

 

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

 

Alitheia IDF

 

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

 

Brisa de la Costa S.A., Parques Eolicos Pampeanos S.A., Lomas de los Vientos S.A., and Univento S.A.

 

Date of public notification (dd/mm/yy)  
13/05/2019  
 
 
Date of signing (dd/mm/yy) 
TBD
 
 
Domicile (country) of Business Operations 
Argentina    
 
 
Domicile of Incorporation 
Argentina     
 
 
Principal Counterparty/ies  
Brisa de la Costa S.A., Parques Eolicos Pampeanos S.A., Lomas de los Vientos S.A., and Univento S.A.
 
 
Project Name (if applicable)    
Envision Energy 
 
 
Financing Service
Project Finance
 
 
General description of transaction    
Construction, operation and maintenance of a 185MW wind turbine power plant in Argentina.
 
 
Amount of Financial Support (anticipated/ actual) 
Up to USD 20 million
 
 
Name of Project Sponsor Project Contact (with link to Environmental and Social Impact Assessment (ESIA)) --  if applicable    
Envision Energy (Jiangsu) Co. Ltd
 
 
Type of ESG Information Reviewed & Summary of Transaction 
Coming soon 
 
 
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) 
TBD
 
 
Domicile (country) of Business Operations 
Sub-Saharan Africa
 
 
Domicile of Incorporation 
Mauritius
 
 
Principal Counterparty/ies  
Africa Sustainable Forestry Partners II L.P. (the “Sponsor”, the “General Partner”
or “GP”);
Criterion Africa Sustainable Forestry Management II LLC (the “Manager” or
“Advisor”)
 
 
Project Name (if applicable)    
Africa Forestry Fund II Limited (ASFF 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 ESG Information Reviewed & Summary of Transaction 
Coming soon 
 
 
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) 
TBD
 
 
Domicile (country) of Business Operations 
Canada
 
 
Domicile of Incorporation 
Canada
 
 
Principal Counterparty/ies  
Développement international Desjardins 
 
 
Project Name (if applicable)    
N/A
 
 
Financing Service
Loan facility
 
 
General description of transaction    
Développement international Desjardins provides disadvantaged communities around the world with access to secure diversified financial services. This loan facility will support inclusive microfinance institutions in Colombia and Ecuador.
 
 
Amount of Financial Support (anticipated/ actual) 
USD 1.3M
 
 
Name of Project Sponsor Project Contact (with link to Environmental and Social Impact Assessment (ESIA)) --  if applicable    
N/A
 
 
Type of ESG Information Reviewed & Summary of Transaction 
Coming soon 
 
 
Canadian Company Involved (if applicable) 
Développement international Desjardins 

 

Managing Director’s Travel and Hospitality Expenses

As part of our commitment to good governance, we have policies governing the reimbursement of reasonable expenses required for the purposes of business travel and hospitality.

Through our website, we voluntarily publish the travel and hospitality expenses of our Managing Director and senior executives. Expenses are reported by quarter and are reflected in the period during which they are reported in our financial records.

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

Managing Director

2018

2019

Board of Directors

2018

2019