In 2015, pursuant to the Paris Agreement, the Government of Canada announced it would contribute a historic 2.65 billion Canadian dollars over five years to help developing countries tackle climate change, with a focus on adaptation and resilience efforts for the world’s most poor and vulnerable countries. In line with this commitment.
The Canada-IFC Blended Climate Finance Program (the successor of the Canada Climate Change
Program) is part of a ground-breaking partnership between the Government of Canada and IFC to mobilize private capital for global climate action.
Started in 2018, the CA$250 million Program provides concessional co-financing alongside IFC to initiatives that: a) increase private sector financing and engagement across a broad cross-section of climate mitigation and adaptation activities, and b) seek to promote market transformation activities that can move markets towards low-emissions and climate-resilient pathways. With a growing focus on the poorest and most vulnerable countries, the BCFP promotes gender-lens climate investing, recognizing that climate change disproportionally effects girls and women.
Canada has been an active member of the World Bank Group (WBG) for over six decades through its thought leadership and financial support. The WBG-Canada partnership is generating results that improve lives in low and middle-income countries around the world, supporting the twin goals of ending extreme poverty and boosting shared prosperity. Canada is one of IFC’s largest development partners, supporting IFC’s investments and advisory services in all regions and across many sectors, with a focus on climate adaptation and mitigation, agribusiness, gender, investment climate, and extractives.