Canada to fund smaller financial institutions in developing countries
Canada has announced it will provide $29.4 million to make personalized financial services available to deserving communities worldwide.
About $23 million will go to the Aequitas Impact Investment Fund, while the remaining $6.5 million is reserved for the fund’s Technical Assistance Facility. The fund is Desjardins International Development’s impact investment initiative.
The Aequitas Impact Investment Fund helps smaller financial institutions in developing countries strengthen their service capacity and product quality.
Businesses that don’t have access to more considerable finances benefit from these improved services.
The investment is part of Canada’s goal to implement the UN’s Sustainable Development Goals and part of the country’s International Assistance Innovation Program, which aims to mobilize private capital to help achieve those goals.
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