The Honourable Randeep Sarai, Secretary of State (International Development), announced $51.5 million for new international assistance programming to advance innovative financing, strengthen global impact investing and expand blended finance solutions to support partner countries. He made the announcement at the G7 Development Ministers’ Meeting in Paris, France. Details on the projects can be found below.

Project: Advancing Canada’s Leadership in Impact Investing Project (ACLIIP)
Partner: Canada Forum for Impact Investment and Development (CAFIID)
Funding: $1.9 million over 6 years

This project will strengthen Canada’s leadership role in shaping global impact‑investing practices. It will support knowledge sharing, capacity building and collaboration among Canadian and international impact‑investment actors. The initiative aims to help mobilize private capital toward sustainable development outcomes by improving standards, strengthening networks and advancing Canada’s voice in global impact‑investment forums.

Project: Advancing Global Blended Finance with Canada’s Support
Partner: Convergence Blended Finance
Funding: $7 million over 6 years

This project will expand the availability and effectiveness of blended finance solutions worldwide. It will strengthen market intelligence, support the design of blended finance structures and help unlock additional private investment for development in low‑ and middle‑income countries. The initiative contributes to global efforts to scale financing for the Sustainable Development Goals.

Project: Allianz Credit Emerging Markets (ACE) Fund
Partner: Allianz Global Investors (AllianzGI)
Funding: $28 million over 22 years

Canada’s investment will help scale an emerging‑markets debt fund designed to mobilize institutional capital toward sustainable economic growth and climate action. The fund targets climate‑aligned sectors such as clean energy, sustainable infrastructure and climate‑smart agriculture. Canada’s participation helps de‑risk private investment and expand access to long‑term, climate‑aligned financing in emerging markets The fund has reached $940M in total commitments and aims to fundraise additional private financing for a total target size of $1.3 billion.

Project: SOURCE Platform for Infrastructure
Partner: Sustainable Infrastructure Foundation (SIF)
Funding: $4.6 million over 2 years

This project will strengthen the SOURCE platform, a global infrastructure project‑preparation tool used by governments to design, assess and manage high‑quality, sustainable infrastructure projects. Canada’s support will help partner governments improve project preparation, integrate climate and sustainability considerations and attract private‑sector investment into well‑structured infrastructure pipelines.

Project: Global Innovation Fund Growth (GIFG)
Partner: Global Innovation Fund Growth Ltd.
Funding: $10 million over 11 years.

Canada’s investment will help scale evidence‑based, high‑impact innovations that improve the lives of people in targeted markets in Africa and South and Southeast Asia. GIFG supports enterprises with strong potential for commercial sustainability and social impact, helping them reach scale and attract private‑sector investment. The initiative focuses on innovations that can deliver measurable development outcomes for low‑income populations.