Innovative finance: The Government of Canada announces CAD 29.4 million for the Aequitas Fund and its technical assistance program
All over the world, inclusive finance institutions play a key role in the development of farming operations and micro, small and medium-sized enterprises (MSMEs). It is to support these institutions and their essential contribution to development that DID set up in 2021 the Aequitas Impact Investment Fund, which the organization manages through its subsidiary FONIDI Management.
Yesterday, the Honourable Ahmed Hussen, Canadian Minister of International Development, has announced the injection of CAD 22.9 million into the Aequitas Fund from the International Assistance Innovation Program (IAIP). This is the first investment to be made under the program. In response to Canada's commitment, Desjardins has in turn injected an additional CAD 15 million into Aequitas, which bring the fund's total envelope to CAD 87.9 million.
In addition to these investments, Global Affairs Canada is contributing CAD 6.5 million to implement the Technical Assistance Program associated with the Aequitas Fund. This program will enable DID to strengthen the capacities of financial institutions supported by Aequitas so that they can better meet the needs of their clientele, particularly women, and improve their environmental, social and governance (ESG) performance. This initiative will be spread over a 12-year period, and will cover all Aequitas-targeted countries in Africa, Asia and Latin America.
“Small businesses drive innovation and growth. Canada is partnering with a leading Canadian organization to launch an inclusive investment fund for sustainable development on a global scale. By expanding access to financial services for entrepreneurs from marginalized groups, especially women and youths, we are supporting their empowerment and helping to build stronger, more resilient communities.”
Ahmed Hussen, Minister of International Development
“We’re proud to be bringing stakeholders into the Aequitas Impact Investment Fund. By pooling our resources, we can do more to promote the economic empowerment of women, young people and entrepreneurs of micro-, small and medium-sized businesses. This investment lines up perfectly with our goal of having a positive impact on gender equality, climate action and sustainable development—not just in Canada, but around the world.”
Guy Cormier, CEO, Desjardins Group
For more information (media inquiries only):
Chantal Corbeil
Public Relations
514 247-0465
media@desjardins.com