MONTREAL, June 2, 2026 /CNW/ – At the Montreal Sustainable Finance Summit, FinDev Canada, Canada's bilateral development finance institution, announced a historic climate finance commitment following the Government of Canada's Spring Economic Update. This initiative marks a significant step in scaling private investment in emerging markets to address climate change.
Capitalization Details
As a key partner in Canada's international climate finance efforts, FinDev Canada will receive new capital totaling CAD 2 billion in paid-in capital and CAD 732 million in concessional capital, with CAD 60 million allocated for technical assistance. This funding will be available starting in 2027 to advance Canada's climate finance goals and support climate action in Africa, Asia-Pacific, Latin America, and the Caribbean.
Priority Sectors
FinDev Canada will focus on several key sectors to mitigate climate change and build resilient economies:
- Energy transition: renewable energy generation, storage, and grid capacity
- Sustainable transportation: public transit, e-mobility, and biofuels
- Water infrastructure: adaptation measures and energy efficiency
- Climate-smart agribusiness: energy efficiency and electrification
- Sustainable finance: funds and transition finance structures
Mobilizing Private Capital
FinDev Canada aims to mobilize private capital by providing banks and institutional investors with broader access to emerging market opportunities. This approach strengthens Canada's foreign policy and economic relations, highlighting the principle that strategic international engagement benefits domestic prosperity.
Supportive Quotes
The Honorable Randeep Sarai, Minister of International Development: "Canada is stepping up its commitment to international climate finance. Under Prime Minister Carney's leadership, this investment in FinDev Canada will catalyze billions in private capital to address climate change, open doors for Canadian expertise in strategic markets, and strengthen our partnerships with allies and important growth markets. This investment generates returns for Canadian taxpayers while advancing our climate goals and complementing our government's work on trade, diplomacy, and development. Smart economic policy is smart climate and development policy working together."
FinDev Canada: "FinDev Canada is a key partner to the Government of Canada's delivery of its international climate finance ambitions. With this capitalization, we will mobilize private capital and leverage our proven track record of generating returns while delivering development impact. We look forward to working across the government and our partners to demonstrate Canadian leadership when the world needs it most."
