The Government of Canada released a statement announcing $132.9 million dollars to establish the “Canada-Africa Development Bank Climate Fund.” See statement below:
March 17, 2021 – Ottawa, Ontario – Global Affairs Canada
“Growing trade and investment partnerships between Canada and the dynamic economies of Africa is more important than ever as businesses recover from the COVID-19 pandemic.
Today, the Honourable Karina Gould, Minister of International Development, and the Honourable Mary Ng, Minister of Small Business, Export Promotion and International Trade, concluded their participation in the first Canada-Africa Clean Growth Symposium co-hosted by Canada, Senegal and Ethiopia.
Minister Gould announced Canada’s contribution of $132.9 million to establish the Canada-African Development Bank Climate Fund, which aims to enhance women’s economic rights and participation in climate action, and to mobilize private capital to fill the climate investment gap in Africa.
Minister Ng noted that this inaugural symposium brought together over 1400 people and included participation from 35 African countries, giving businesses access to new potential commercial opportunities with partners developing clean growth solutions, creating good-quality jobs for people in Canada and African countries.
The three-day virtual symposium was an important follow-up to last year’s announcement made by Prime Minister Trudeau in Ethiopia and Minister Ng’s visit to South Africa, Kenya and Ethiopia. This event highlighted the shared commitment towards inclusive and environmentally responsible economic development and the growing innovative partnerships between Canada and Africa that advance Sustainable Development Goals.
Canada continues to ensure that businesses have access to a stable marketplace so that they can continue to grow and reach the many economies in Africa.”
Link to the Government of Canada’s website here.