Impact entrepreneurs in developing markets. Provide innovative financial solutions. Develop a sustainable future. In January 2018, the Development Finance Institute Canada (DFIC) Inc. opened for business with a mandate to support the growth and sustainability of businesses in developing markets. FinDev Canada will help create jobs, promote women’s economic empowerment, and contribute to a cleaner and greener environment.
By filling the gap between commercial support and development assistance, FinDev Canada will bring financial strength to businesses in developing markets that will in turn create stability and prosperity for local communities. It will support local private sector activity where it contributes to sustainable development.
Based in Montréal, Québec, FinDev Canada is a wholly owned subsidiary of Export Development Canada (EDC), Canada’s export credit agency. They aim to be financially sustainable by generating returns on their loans and investments, and to have a favourable economic and social impact in the communities where their clients operate.
At FinDev Canada, they value equality, inclusion and the environment. They’re building their success on a coherent strategy, placing economic and social development results at the forefront of all activities. By providing support to businesses in developing countries, they intend to have a favourable impact on poverty reduction through job creation, women’s economic empowerment, and climate change action. They will achieve this by focusing on three priority sectors:
Green growth, e.g. renewable energy, energy infrastructure, energy efficiency, water supply, water management, waste management, waste water management, bio-refinery products, green industrial production, and climate solutions focused on mitigation or adaptation.
Agribusiness value chain, from processing, storage, transportation and distribution.
The financial industry, particularly local financial institutions, as a means to reach local small and medium-sized enterprises.
FinDev Canada will have a dual geographic focus, covering areas where Canada has the greatest strengths and experience, and where poverty is an ongoing challenge: Latin America and the Caribbean, and sub-Saharan Africa.
Their strategic approach aligns with the Government of Canada’s priorities—to stand out from the crowd, leverage partnerships, implement effective governance and decision-making, and grow a financially sustainable portfolio with an appetite for well-managed risk.
FinDev Canada will create a niche through our nimble and innovative approach to business, focusing on the needs of private sector borrowers and companies investing in developing countries, all while concentrating on business activities that offer significant economic and social impact.
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