FinDev Canada and BIO partner to increase their contribution to the SDGs
FinDev Canada and BIO, the Belgian Investment Company for Developing Countries, today signed an agreement that will further collaboration to support the sustainable growth of the private sector in developing countries.
“By strengthening partnerships with our peers, we will help realize the Sustainable Development Goals by accelerating impact through our joint efforts.”
Suzanne Gaboury, Chief Investment Officer of Findev Canada
The Memorandum of Understanding facilitates the sharing of best practices and the exploration of joint transaction opportunities in common geographical areas, such as Latin America and Sub-Saharan Africa.
The signature took place at the FinDev Canada office in Montreal.
The two development finance institutions (DFIs) share a strategic focus on agribusiness, financial institutions as means to reach SMEs, and green growth, specifically improved access to energy and water, as well as a regional concentration in Latin America and Sub-Saharan Africa.
Both institutions are committed to contributing to the achievement of the Sustainable Development Goals (SDGs), concentrating their efforts in private sector activities that have an impact on SDG 7, affordable and clean energies, SDG 8, decent work and economic growth and SDG 9, industry, innovation and infrastructure.
“BIO heartedly welcomes FinDev Canada as the world’s newest Development Finance investor, and its strong focus on gender lens investing and development impact.”
Luuk Zonneveld, CEO of BIO
BIO and FinDev Canada are among the first adopters of the Operating Principles for Impact Management, a series of guidelines launched by the International Finance Corporation (IFC) during this year’s World Bank Spring Meetings. The Principles aim to standardize best practices in impact investing.
During a launch ceremony at Résidence de Belgique in Abidjan, last Thursday, October 14, the Belgian Investment Company for Developing Countries (BIO) celebrated the opening of its first African office in Abidjan.
On the 27th of September 2021, Oxfam Belgium published the report ″Fuelling human rights violations″ addressing the problematic consequences of a bioethanol project co-financed by BIO. Oxfam's testimonies on the excesses concerning environment and health are mostly dated after 2015, two years after Maple Etanol prematurely reimbursed BIO and left our portfolio. Since then BIO no longer had access to the monitoring reports either.
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