Minister Oda Unveils CIDAs Sustainable Economic Growth Strategy

TORONTO, ONTARIO — (Marketwire) — 10/25/10 — The Honourable Beverley J. Oda, Minister of International Cooperation, today unveiled CIDA’s strategy for sustainable economic growth, which will help developing countries reduce poverty through stimulating long-term growth in their economies and providing skills training and job opportunities for their citizens.

“Focusing Canadian development assistance on sustainable economic growth, along with CIDA’s two other priorities of increasing food security and securing the future of children and youth, is key to delivering tangible results and helping to better lives in the developing world,” Minister Oda told an audience of students, academics, and aid partners at the University of Toronto’s Munk Centre for International Studies. “Sustainable economic growth is the engine for developing countries to rapidly and sustainably reduce poverty.”

Through the Sustainable Economic Growth Strategy, CIDA will support work to create the long-term growth that will raise the income levels and resilience of poor women and men in developing countries. The strategy focuses on three paths: building economic foundations, growing businesses, and investing in people.

Minister Oda also announced $155.3 million in funding for projects supporting CIDA’s Sustainable Economic Growth Strategy aimed at achieving concrete results under each path in Africa, Latin America, Asia, and Eastern Europe. The projects will help create opportunities for people living in poverty in these countries to earn a decent living and will enable governments to make long-term investments in development.

“These projects illustrate how CIDA’s work through the Sustainable Economic Growth Strategy will help developing countries create the necessary economic framework for sustainable growth to take place, enable a productive and competitive private sector to create jobs, and improve access to and benefits from economic opportunities,” added Minister Oda.

One such project involves a $15.7-million investment with Plan International Canada to promote African grassroots economic security (PAGES) through education and skills in Ethiopia, Ghana, Mali, Senegal, and Tanzania. The program will help girls and marginalized children access quality primary education and will provide vocational and entrepreneurial skills to youth and women.

“Increasing evidence shows that when people are given the opportunity to save money and participate in strategic income-generating activities, children benefit,” said Rosemary McCarney, President and CEO, Plan International Canada. “Plan’s PAGES program recognizes the significant role that youth play as current and future economic actors. By investing in women, men, and youth to advance their practical knowledge, tangible skills, and savings opportunities to build economic foundations, PAGES aims to improve children’s lives and reduce the incidence of poverty that tends to flow from one generation to the next.”

Backgrounder

CIDA’S STRATEGY TO STIMULATE SUSTAINABLE ECONOMIC GROWTH IN DEVELOPING COUNTRIES

Strategy-at-a-Glance

CIDA’s strategy to stimulate sustainable economic growth in partner countries and regions focuses on three paths:

Strategic objective

The strategy seeks to help developing countries increase their productive capacity and provide new opportunities for their citizens.

Priorities for action

Building economic foundations

Growing businesses

Investing in people

Backgrounder

$155.3 million in new projects supporting CIDA’s Sustainable Economic Growth Strategy

The Government of Canada, through CIDA, is providing $155.3 million to support 12 sustainable economic growth projects that demonstrate action along the three paths of the Sustainable Economic Growth Strategy.

Building economic foundations

Americas and Africa: $40 million to the multilateral Aid-for-Trade initiative for 2009-2014 to increase jobs and economic opportunities in the Americas and Africa through enhanced participation in the global economy. About one quarter of this investment will be devoted to making substantive improvements to the lives of women traders, entrepreneurs, and small-scale farmers. The project will include information and training programs that target female traders in order to raise awareness on the implication of sanitary and phytosanitary standards and trade barriers. Other activities will consist of capacity building with governments and the private sector in the regions to monitor the impact of trade rules and standards on female and male producers.

Partners: African Development Bank ($15 million); Inter-American Development Bank ($10 million); World Bank Trade Facilitation Facility ($5 million); World Trade Organization ($7.5 million); Advisory Centre on WTO Law ($2.5 million).

Peru: $12.7 million to enhance the development impact of extractive industries in Peru

Partner: International Finance Corporation.

Partner: Oxfam Canada.

Partner: Federation of Canadian Municipalities.

Growing businesses

Partner: Inter-American Development Bank.

Mozambique: $13.2 million to increase agricultural production capacity, improve access to financial services and broaden market opportunities for up to 35,000 households in 7 districts of Cabo Delgado province. This will be done through interventions in the areas of agriculture, enterprise development, savings and credit, and community development.

Partner: Aga Khan Foundation Canada.

Partner: People’s Committee of Soc Trang Province.

Partner: Developpement international Desjardins.

Investing in people

Partner: Plan International Canada.

Partner: Fondation Paul Gerin-Lajoie.

Partner: Association of Universities and Colleges of Canada.