抖淫视频

Sovereign Loans Program

What we do

In Budget 2018, Canada allocated over CAD $657.7 million to deliver the Sovereign Loans Program (SLP). Through this five-year pilot program (2019 - 2024), we provided low-interest sovereign loans, primarily to middle-income countries, to support their investments in poverty reduction.

Through the SLP, Canada aims to generate social, economic and environmental outcomes that would not occur in the absence of sovereign lending. All initiatives must contribute measurably to the achievement of the Sustainable Development Goals and be aligned with at least one of the six action areas of Canada’s Feminist International Assistance Policy. Lending decisions were made with the economic development and welfare of the recipient as the main condition of lending.

The Department ensured that initiatives funded by the SLP were aligned with international best practices on debt transparency and did not contribute to unsustainable levels of debt in recipient countries. The SLP  worked closely with Finance Canada, who leads on Canada’s international debt policy and represents Canada at the Paris Club.

Our approach to sovereign lending

The SLP provided five sovereign loans on concessional terms to Ecuador, Guyana, Jordan, Moldova and South Africa, tailored to their needs and priorities as they relate to poverty reduction. The SLP improved the breadth of support Canada can deploy and aligned Canadian international assistance with other leading donors. These sovereign loans were accompanied by technical assistance of up to CAD 6.5 M each.

抖淫视频 negotiated bilateral sovereign loan terms and conditions on a case-by-case basis with eligible borrowers. Those terms fell within the following parameters:

• Maximum loan term of 10 years;
• Fixed interest rate equal to the Government of Canada’s cost of borrowing;
• Principal and interest payments must be made on at least an annual basis;
• Loans can be issued in CAD, USD, GBP, JPY, or another currency identified by the International Monetary Fund as an official foreign exchange reserve currency; and,
• Total outstanding loans made to or guaranteed by a country under the SLP cannot exceed 20% of the loan portfolio or $120 million, whichever is greater.

Our partners

Canada only entered into sovereign loan agreements if the recipient or the guarantor of the loan was the government of a country that was:

• Included in the Organisation for Economic Co-operation and Development (OECD) ;
• A ; and
• Considered creditworthy, taking into consideration World Bank and International Monetary Fund debt sustainability analyses.

The SLP programed in borrowing democratic countries and placed an emphasis on those that sought to improve their democratic status. Where possible, loans provided through the SLP focussed on countries and sectors where Canada had an existing relationship with the borrowing country. This  allowed the SLP to build linkages across the department and tap into the knowledge, expertise and networks that exist within our bilateral programs and across the mission network.

Although the pilot officially ended in March 2024, the Department will continue to engage with the partner countries and implementing agencies to monitor and report on the results of the sovereign loans and technical assistance projects over the next ten years.