Minister Gould and Minister Ng conclude the first Canada-Africa Clean Growth Symposium and announce the Canada-African Development Bank Climate Fund
March 17, 2021 – Ottawa, Ontario – Global Affairs Canada
Growing trade and investment partnerships between Canada and the dynamic economies of Africa is more important than ever as businesses recover from the COVID-19 pandemic.
Today, the Honourable Karina Gould, Minister of International Development, and the Honourable Mary Ng, Minister of Small Business, Export Promotion and International Trade, concluded their participation in the first Canada-Africa Clean Growth Symposium co-hosted by Canada, Senegal and Ethiopia.
Minister Gould announced Canada’s contribution of $132.9 million to establish the Canada-African Development Bank Climate Fund, which aims to enhance women’s economic rights and participation in climate action, and to mobilize private capital to fill the climate investment gap in Africa.
Minister Ng noted that this inaugural symposium brought together over 1400 people and included participation from 35 African countries, giving businesses access to new potential commercial opportunities with partners developing clean growth solutions, creating good-quality jobs for people in Canada and African countries.
The three-day virtual symposium was an important follow-up to last year’s announcement made by Prime Minister Trudeau in Ethiopia and Minister Ng’s visit to South Africa, Kenya and Ethiopia. This event highlighted the shared commitment towards inclusive and environmentally responsible economic development and the growing innovative partnerships between Canada and Africa that advance Sustainable Development Goals.
Canada continues to ensure that businesses have access to a stable marketplace so that they can continue to grow and reach the many economies in Africa.
“Climate change is among the most important challenges of our time and we know that some countries are especially at-risk to its impacts. Canada is partnering with the African Development Bank to address gaps in climate change resources. We are excited to see the collective energy of Africa sharing a vision of a future that is green, blue, inclusive and sustainable. ”
- Karina Gould, Minister of International Development
“The economy and environment go hand in hand. Our government is committed to a sustainable, inclusive economic recovery from COVID-19 and international trade will play a critical role to accomplish this. Building on our work, today's announcement, this week's Symposium, and the clean growth sector will create many opportunities for Canada and our partners in countries across Africa to generate growth and create jobs while addressing climate change.”
- Mary Ng, Minister of Small Business, Export Promotion and International Trade
The Government of Canada has made strategic investments in clean technology, committing more than $2.3B to support Canadian cleantech firms grow, scale up and reach new markets.
Growth for Canadian clean technology product exports to Africa rose by 136% between 2008 and 2018.
In 2020, Canada had $11.7 billion in two-way merchandise trade with African countries.
In 2019, there was $10.7 billion in Canadian direct investment in Africa, and $37.8 billion in mining assets.
The African Development Bank Group is one Canada’s key multilateral development partners, contributing to sustainable economic growth in Africa.
Canada joined the African Development Bank in 1982 and is the fourth-largest non-African shareholder in the Bank with a 3.8% voting share.
Canada’s contribution to the establishment of the Canada-Africa Development Bank Climate Fund is an allocation of the $2.65 billion pledge for climate finance in developing countries announced in 2015 by Prime Minister Trudeau.
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Office of the Minister of Small Business, Export Promotion and International Trade
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