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.
The Belgian and German development banks BIO and DEG join forces in infrastructure and enterprise projects, worth 120 million euros.