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Canada Pledges $391.3M to Leverage Private Capital in Overhaul of Aid Bureaucracy

Randeep Sarai is pushing for faster, more transparent aid delivery by attending the GAVI vaccine summit in Brussels, followed by a UN development financing conference in Spain.

Overview

  • Sarai has made cutting paperwork and boosting visibility his top priorities to ensure Canadian aid dollars reach beneficiaries more quickly and clearly.
  • Ottawa maintained a $12 billion foreign aid budget for 2023–24 even as the United States reduced its international assistance under President Trump.
  • At the recent G7 summit, Canada committed $391.3 million to mobilize private sector investment and set aside up to $544 million in loans for projects in Latin America and the Caribbean.
  • In Brussels, Sarai joined the GAVI pledging gathering without announcing new Canadian funding and then moved on to a UN conference in Spain to discuss development financing with private and civil society actors.
  • He will advance his reform agenda next at the G20 development ministers’ meeting in South Africa and at a climate adaptation summit in the Solomon Islands.