October 26, 2024 – Washington, United States – Global Affairs Canada
Financial inclusion gives people a fair chance to succeed. However, rising costs of living, regional conflicts and natural disasters caused by climate change are creating financial pressures that impact daily life, particularly for the world’s most vulnerable people.
Yesterday, the Minister of International Development, the Honorable Ahmed Hussen, concluded his participation in the 2024 Annual Meetings of the International Monetary Fund (IMF) and the World Bank Group (WBG) in Washington. On this occasion, he announced a contribution of $20 million to the Toronto Center over five years.
Canada’s investment will expand the scope of tailored training offered by the Toronto Center to financial regulators in developing countries, including women. Women continue to be less likely than men to have access to financial institutions, or even to have their own bank account. Inclusive training can help break the cycle of gender-based poverty, change lives and increase women’s participation in the economy. The project focuses on sub-Saharan Africa, the Indo-Pacific region, and offers special assistance to Ukraine.
Minister Hussen also spoke with global partners, World Bank management and other key stakeholders who want to work with Canada to improve access to credit for those who can. no longer needed, particularly women, which constitutes a priority of Canada’s Feminist International Assistance Policy. The World Bank Group is an important partner in financing development projects that help improve financial stability, facilitating access to financial services and providing support in times of crisis.
