ADB and Findev Canada Partner for Sustainable and Inclusive Investments in Asia Pacific

The Asian Development Bank (ADB) and FinDev Canada have signed a memorandum of agreement to cooperate on sustainable and inclusive private sector investments that promote sustainable development in Asia and the Pacific.

ADB formalised its partnership with FinDev Canada to jointly support private sector growth and investments in emerging and developing markets that advance women’s economic empowerment, climate action, and local market development. The signing ceremony took place on the sidelines of ADB’s 56th Annual Meeting.

“Asia and the Pacific need more investments in climate action and while ADB is increasing these investments and providing innovative solutions, the impact of our support is amplified when we work closely with partners,” said ADB Director General for Private Sector Operations Suzanne Gaboury.

“This partnership will deepen our collaboration with FinDev Canada on socially responsible and environmentally sustainable finance to develop the region’s private sector.”

Under the agreement, ADB and FinDev Canada will identify potential projects that qualify for cofinancing by both parties. Activities will be focused on projects that meet ADB and FinDev’s Canada’s investment criteria in priority sectors. The collaboration will be further strengthened by regular knowledge sharing of country and sector strategies and sustainability-related data.

“As we look to support the private sector in the Indo-Pacific region, ADB is the ideal partner with close to 60 years of experience, and we are excited by all the possibilities this partnership offers,” said FinDev Canada Chief Executive Officer Lori Kerr. “We are looking forward to working together towards the shared goal of mobilizing private capital to accelerate economic growth and the transition to a low-carbon, climate-resilient future.”

FinDev Canada is Canada’s bilateral development finance institution. It supports development through the private sector in emerging markets and developing economies with financing, investment, blended finance solutions, and technical assistance.

It aims to promote sustainable and inclusive growth, focusing on climate action, women’s economic empowerment, and market development in alignment with the Sustainable Development Goals and Paris Agreement commitments.

FinDev is a Canadian Crown corporation and subsidiary of Export Development Canada.

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