Canada supports projects to leverage private sector and civil society resources
Canada is committed to helping developing countries mobilize the resources and expertise of businesses and civil society organizations to create jobs, growth, and shared prosperity and maximize the impact of international development investments.
Canada is providing support to new projects aimed at stimulating private sector-led development and increasing the effectiveness of civil society organizations:
Impact Investment in Frontier Markets project ($19.95 million over five years)
This project is a collaboration among the Mennonite Economic Development Associates of Canada (MEDA), Sarona Asset Management, and the MaRS Centre for Impact Investing.
Canada's maximum contribution is $19.95 million. Of this amount, $15 million will be used for investment purposes, and $4.75 million will pay for MEDA's technical assistance and management costs, and the remaining 200 thousand are for project monitoring and evaluation.
This project aims to reduce poverty by supporting the development of small and medium enterprises, which play a vital role in creating jobs and generating wealth in developing-country markets. It supports the launch of a 15-year investment fund that leverages private equity investment to help small and medium enterprises in developing countries grow, thereby creating at least 15,000 new jobs.
Civil Society Organization Partnership for Development Effectiveness ($600,000 over three years)
Canada's support will help develop the capacity and effectiveness of civil society organizations in more than 50 countries. This support will help promote democracy in developing countries, as well as greater cooperation among partners including civil society organizations, government and multilateral organizations. The contribution also supports civil society engagement in the Global Partnership process.
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