Grants and Contributions:
Title:
A New Partnership for Sustainable Impact Investing in Frontier Markets
Agreement Number:
5007059869 P000532001
Agreement Value:
$19,749,945.00
Agreement Date:
Jun 20, 2013 - Jun 21, 2028
Description:
This project aims to reduce poverty by supporting the development of small and medium enterprises, which play a vital role in creating jobs and generating wealth in developing country markets. The project supports the launch of a 15-year investment fund that leverages private equity investment of up to $400 million to help up to 250 of the most promising small and medium enterprises in developing countries grow, thereby creating at least 15,000 new jobs.
Through investments and technical assistance, the project also aims to increase access to products and services for up to 10,000,000 individuals, improve socially responsible business practices and generate additional revenues for small and medium enterprises and governments.
This project is a collaboration among the Mennonite Economic Development Associates, Sarona Asset Management, and the MaRS Centre for Impact
Investing. The project is part of Canada's commitment to promoting sustainable economic growth globally.
Organization:
Global Affairs Canada
Expected Results:
The expected intermediate outcomes for this project include: over the life of the fund, (i) expanded and improved investment services provided by 12 to 18 investment funds to up to 250 small and medium enterprises; and (ii) strengthened capacity for economic growth, job creation, reporting and social impact among 15 to 20 investment firms and up to 250 small- and medium- sized enterprises.
Location:
Waterloo, Ontario, CA N2L 0C7
Reference Number:
GC-2014-Q1-0016
Agreement Type:
Contribution
Report Type:
Grants and Contributions
Recipient Business Number:
107691057
Recipient Type:
Not-for-profit organization or charity
Additional Information:
Belated reporting that should have been included in the 2018-2019 first Quarter report: Change to header text
Amendment Date
May 7, 2018
Recipient's Legal Name:
MEDA - Mennonite Economic Development Associates
Federal Riding Name:
Waterloo
Federal Riding Number:
35112
Program:
International Development Assistance Program
Program Purpose:
The main purpose on the International Development Assistance Program is to reduce poverty for those living in countries where Global Affairs Canada engages in international development.
Amendments: