Secretary of State Sarai concludes participation in the Fourth International Conference on Financing for Development

June 30, 2025 - Ottawa, Ontario - Global Affairs Canada

Access to development financing is essential to help countries thrive. It grows businesses, creates jobs, and builds a more secure future for families and communities at home and abroad. It also plays a critical role in supporting underserved communities in emerging markets as they make progress toward achieving the Sustainable Development Goals (SDGs).

To help drive progress on these priorities, the Honourable Randeep Sarai, Secretary of State (International Development), today participated in the Fourth International Conference on Financing for Development (FfD4), a high-level UN event, taking place from June 30 to July 3, 2025, in Sevilla, Spain.

At the conference, Secretary of State Sarai reaffirmed Canada’s commitment to sustainable development and to building a more inclusive international financing system. As a clear example of this commitment, Canada contributed The Common Principles for Private Capital Mobilization to the Sevilla Platform for Action. Canada is co-leading this work alongside France, Germany, Italy and the United Kingdom. The Common Principles will serve as a road map for Canada and others to mobilize private capital for sustainable development now and into the future.

Secretary of State Sarai also announced 3 initiatives aimed at mobilizing sustainable investments in emerging markets. They are as follows:

• The Blended Finance Accelerator for Fund Managers (A4FM) is a $10-million project in partnership with Convergence Blended Finance Inc. The project aims to increase the mobilization of private capital for blended finance funds—that is, a mix of private and public investment—improving the livelihoods of those in underserved communities in developing markets. The project supports gender inclusive investment strategies through knowledge building, repayable grants and tailored technical assistance
• Support to the Integrated National Financing Frameworks (INFF) Facility is a $2-million project in partnership with the United Nations Development Programme. This project aims to address the persistent misalignment between financial systems and SDGs. The INFF offers a structured approach to align diverse financial flows with sustainable development priorities
• Funding the Future: Domestic Resource Mobilization in a Digital Economy is a $5-million project in partnership with the Organisation for Economic Co-operation and Development’s Centre for Tax Policy and Administration. The project will help developing countries enhance domestic resource mobilization through a comprehensive technical assistance program, which includes support for implementing international standards to raise revenues from multinational enterprises, exchange information to combat illicit financial flows and implement measures to fight financial crime. The project will also mobilize international expertise to provide data, training, guidance and practical support to developing countries across a range of issues related to digitalization

Following Secretary of State Sarai’s departure, Bob Rae, Ambassador and Permanent Representative of Canada to the United Nations in New York, who also attended the conference, highlighted Scaling Capital for Sustainable Development (SCALED) on his behalf. Canada is contributing approximately $50 million to the SCALED initiative.

SCALED will help address major barriers to private sector investment in developing countries by simplifying and standardizing blended finance structures, as well as quickly and efficiently get investments to market in support of the SDGs.

These investments demonstrate Canada’s commitment to mobilizing all sources of finance. Combined private and public investment strengthens economic growth and stability in developing markets, helping achieve the SDGs.