Canada Announces $29.4 Million Investment in Aequitas Impact Fund to Boost Entrepreneurs in Developing Countries

Ottawa, Canada – The Honourable Ahmed Hussen, Canada’s Minister of International Development, has announced a $29.4 million investment in the Aequitas Impact Fund in collaboration with Desjardins Group, a leading Canadian financial services cooperative. The announcement was made via social media on October 16, 2024, with a focus on increasing access to capital for entrepreneurs in developing countries, particularly targeting women and youth.

The new funding aims to provide financial resources that are often a barrier for entrepreneurs in developing regions. By investing in the Aequitas Impact Fund, the initiative seeks to foster financial autonomy and sustainable economic growth by empowering entrepreneurs to expand their businesses and create employment opportunities. Hussen emphasized the significance of capital access as a fundamental step toward achieving financial independence for marginalized groups.

Access to capital is the first step towards financial autonomy.

Today, I announced $29.4M to the Aequitas Impact Fund with @DesjardinsCoop. This inclusive finance fund will support entrepreneurs in developing countries—especially women and youth—thrive and grow their businesses. pic.twitter.com/E2FlRodxNV

— Ahmed Hussen (@HonAhmedHussen) October 16, 2024

The collaboration with Desjardins is seen as a strategic move to leverage the cooperative’s experience in inclusive finance and community development. The Aequitas Impact Fund, supported by Desjardins, is structured to offer financial services and credit to small and medium-sized enterprises (SMEs) in underserved markets, thereby helping to bridge the financial gap that many entrepreneurs face.

By enhancing access to capital, the initiative aims to enable entrepreneurs to not only sustain their operations but also achieve significant growth, leading to broader economic development in their communities.

This investment aligns with Canada’s broader international development agenda, which seeks to advance gender equality, economic empowerment, and sustainable development goals.

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