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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.

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.

Alwin Marshall-Squire

Alwin Marshall-Squire is the Editor-in-Chief and Jamaican-Canadian Affairs Writer at Vision Newspaper - The Caribbean Update. With over two decades of experience, he is a dedicated advocate for amplifying Jamaican-Canadian voices. Alwin leads with vision, shaping the newspaper's editorial direction to reflect the diverse Jamaican Diaspora community. His insightful commentary and investigative reporting shed light on issues of identity and social justice, sparking crucial conversations and inspiring positive change. Alwin is not only a journalist but also a community leader, actively involved in initiatives promoting equity and representation. For feedback Alwin can be reached at al@visionnewspaper.ca

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