Singapore, 20 February 2025 – Canada’s bilateral Development Finance Institution, FinDev Canada, announces the opening of its first regional office in Singapore to support clients and partners in the Indo-Pacific region.
The Indo-Pacific is one of the world’s fastest-growing economic regions, yet its developing countries face a demand for infrastructure development that nears US$1.7 trillion, according to the Asian Development Bank. FinDev Canada’s toolbox of financial and non-financial products brings together public, private, concessional, and philanthropic players to close these financing gaps. This approach is having a demonstration effect for the private sector interested in the Indo-Pacific market.
The Indo-Pacific origination strategy aligns with the region’s development challenges, and will target sustainable infrastructure; agribusiness, forestry, and their related value chains; and the financial industry. FinDev Canada offers a tailored mix of corporate and project finance debt at commercial rates; blended finance solutions through concessional facilities; equity; and technical assistance and advisory.
Currently, FinDev Canada serves nearly 50 clients globally with US$1.1 billion outstanding. FinDev Canada is well-positioned to provide commercial solutions to global challenges by advancing infrastructure and the energy transition, job creation, and market development.
To do so, FinDev Canada de-risks assets, deploys debt and equity on commercial terms, and crowds in private investors to increase the flow of capital to sustainable projects. Projects will be originated and monitored for their development impact, for example, clean energy generation, gender equality, and market development.
The Indo-Pacific portfolio currently has two transactions valued at nearly US$100 million supporting broader investments in the region of US$1.6 billion. The office opening aligns with the Government of Canada’s Indo-Pacific Strategy in 2022 and commitments to the region. The Indo-Pacific office will allow us to take forward the goals of the memorandum of understanding (MOU) between Asian Development Bank (ADB) and FinDev Canada (FDC) signed in 2023 to co-finance projects together and continue partnerships in the region.
Having a physical presence in the region offers an efficient and effective way to understand the local market, develop long-term relationships with partners, and serve clients. Singapore is chosen as a strategic hub for the region given its role as a global financial centre with stable and transparent regulatory frameworks, a well-defined legal system, and a country ranked highly for ease of doing business. With full underwriting capacities, the Singapore office is well-positioned geographically as a gateway to our Indo-Pacific partners and the world.
“The global challenges we face today are more complex and interconnected than ever before. This is especially true in the Indo-Pacific's emerging and developing countries where we work. Our support for the Indo-Pacific, though relatively new, is already having impact. By harnessing the power of the private sector, we are supporting innovation, creating jobs, and mobilising capital flows to complement public sector resources. We are proud and excited to support clients and partners from our new Singapore office,” Lori Kerr, CEO, FinDev Canada.
"The Asian Development Bank welcomes FinDev Canada as a partner in the region, which takes our shared 2023 MOU one step further to co-finance sustainable development projects. By launching an office in Singapore, FinDev Canada brings to the Indo-Pacific region a value proposition proven in other emerging markets and developing economies. We look forward to seeing its mix of financial and non-financial products serve our clients and partners across a range of critical sectors," Suzanne Gaboury, Director General, ADB.
"The Monetary Authority of Singapore (MAS) welcomes FinDev Canada’s first Asian office in Singapore – a global financial centre and strategic gateway to the Indo-Pacific region. FinDev Canada's efforts to catalyse infrastructure and blended finance, and bring together public, private, concessional, and philanthropic players will be a welcome addition to the regional investment landscape. We look forward to working together to advance sustainable development in the region," Gillian Tan, Assistant Managing Director (Development & International) and Chief Sustainability Officer of MAS.
“I am thrilled to welcome FinDev Canada to Singapore, marking a significant milestone in Canada’s deepening engagement with the Indo-Pacific. This move underscores Canada’s steadfast commitment to fostering development through the private sector in one of the world’s most dynamic and fast-growing regions. With its expertise in mobilising private capital, FinDev Canada is uniquely positioned to advance shared priorities of sustainable and inclusive growth and strengthen partnerships that drive long-term prosperity across the region,” Jean-Dominique Ieraci, High Commissioner for Canada in Singapore.
About FinDev Canada
FinDev Canada is Canada’s bilateral Development Finance Institution (DFI), supporting development through the private sector. We provide financing, investment, and blended finance solutions, as well as technical assistance and advisory, to promote sustainable and inclusive growth in emerging markets and developing economies (EMDEs), in alignment with the Sustainable Development Goals (SDGs) and Paris Agreement commitments. Find out more about FinDev Canada at www.findevcanada.ca.
Media Contact
FinDev Canada: Media@findevcanada.ca