Canada is helping companies of every size get a fair chance to succeed. But too often in developing countries around the world, financing, such as loans and insurance, is tough to access. That means that opportunities to grow are scarce.
Canada is changing that by improving access to financial services for underserved global populations, including women.
Today, the Honourable Ahmed Hussen, Minister of International Development, announced $22.9 million in funding for the Aequitas Impact Investment Fund and $6.5 million for the fund's Technical Assistance Facility, for a total of $29.4 million. This 12-year project, in partnership with Desjardins International Development (DID), will help make personalized financial services available to underserved communities around the world-helping them to grow and succeed.
The Aequitas Impact Investment Fund, launched in 2021, invests in small-scale financial institutions in developing countries to help them improve the availability of financial products, such as bank accounts, loans and insurance. These investments increase the availability of financial products and services for entrepreneurs who run micro-, small and medium-sized businesses, including women, youths and small-scale farmers in Africa, Asia, Eastern Europe and Latin America. Canada's investment in this fund represents a key milestone in Canada's progress in implementing the UN Sustainable Development Goals, particularly with investments in gender equality and international development.
Canada's investment is supported by a technical assistance facility that helps financial institutions and their clients improve their access to financial products and services to build and sustain their businesses.
