5 May 2017: Canada’s Development Finance Institute (DFI) will promote private sector investment in developing countries, contributing to the achievement of sustainable development objectives. Providing an update on the initiative on 5 May, Canada’s Minister of International Development and La Francophonie, Marie-Claude Bibeau, said that by leveraging the expertise of small and medium-sized enterprises (SMEs), “including those run by women and youth” the DFI will have “a positive and lasting impact on the lives of the world’s poorest and most vulnerable populations.”

The DFI will work to mobilize resources and expertise to promote green economic growth and enable partnerships between the private sector and SMEs. The institute will also promote the involvement of young entrepreneurs and women in achieving sustainable development.

The DFI will promote the involvement of yount entrepreneurs and women in achieving sustainable development.

Bibeau announced that the headquarters for DFI will be located in Montréal, Canada. The institute will operate as a wholly owned subsidiary of Export Development Canada (EDC) and is expected to receive $300 million over five years to support its work. In addition to its headquarter office, the DFI will be represented in countries eligible to receive official development assistance (ODA). [Global Affairs Canada Press Release] [EDC Website] [Resource Page on DFI]