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<p><span style="font-family: 'Arial', sans-serif"><span style="font-size: 14pt"><span style="font-weight: bold">November 12, 2006 <i>(9:45 a.m. EST)</i><br>
No. 133</span></span></span></p>
<br>
<p style="text-align: center"><span style="font-family: 'Arial', sans-serif"><span style="font-size: 14pt"><span style="font-weight: bold">CANADA’S NEW GOVERNMENT ANNOUNCES OVER $40 MILLION
FOR MICROFINANCE PROJECTS IN THE DEVELOPING WORLD</span></span></span></p>
<br>
<p><span style="font-family: 'Arial', sans-serif"><span style="font-size: 12pt">The Honourable Peter MacKay, Minister of Foreign Affairs and Minister for the Atlantic
Canada Opportunities Agency, and the Honourable Josée Verner, Minister of
International Cooperation and Minister for La Francophonie and Official Languages,
today announced more than $40 million to help poor people in developing countries
access formal financial services to improve their own economic and social well-being.
The announcement was made at the 2006 Global Microcredit Summit in Halifax.</span></span></p>
<br>
<p><span style="font-family: 'Arial', sans-serif"><span style="font-size: 12pt">“Around the world, the power of microfinance is transforming lives,” said Minister
MacKay. “It is leading to better prospects for families and communities—improved
health, education and local economies—by giving people an opportunity to have a
stake in their futures and countries. Canada’s new government is a leader in
microfinancing in Afghanistan, which is part of our efforts to foster self-reliance.
Microcredit is helping Afghans build the road to freedom and democracy.”</span></span></p>
<br>
<p><span style="font-family: 'Arial', sans-serif"><span style="font-size: 12pt">“Canada supports microfinance as an important tool for development,” said Minister
Verner. “It gives poor people, especially women, the opportunity to access essential
financial services such as savings accounts and micro-loans, so that they can start and
build their own businesses, and thereby provide for themselves and their families.”</span></span></p>
<br>
<p><span style="font-family: 'Arial', sans-serif"><span style="font-size: 12pt">Today’s funding will be provided to three partners whose programs have already been
achieving significant results:</span></span></p>
<p style="text-indent: -0.5in; margin-left: 0.5in"> </p>
<p style="text-indent: -0.5in; margin-left: 0.5in"><span style="font-family: 'Arial', sans-serif"><span style="font-size: 12pt">• <span>        </span>Développement international Desjardins: $19.85 million for programs that
strengthen community financial sectors in 25 developing countries in Africa, Asia
and Latin America. An additional $1.3 million is being provided for financial and
technical assistance that will rebuild tsunami-affected regions, in partnership with
SANASA (Thrift and Credit Co-operative Movement in Sri Lanka).</span></span></p>
<p style="text-indent: -0.5in; margin-left: 0.5in"> </p>
<p style="text-indent: -0.5in; margin-left: 0.5in"><span style="font-family: 'Arial', sans-serif"><span style="font-size: 12pt">• <span>        </span>Canadian Co-operative Association: $19.5 million for programs to support the
development of credit unions and cooperatives in less developed countries.</span></span></p>
<p style="text-indent: -0.5in; margin-left: 0.5in"> </p>
<p style="text-indent: -0.5in; margin-left: 0.5in"><span style="font-family: 'Arial', sans-serif"><span style="font-size: 12pt">• <span>        </span>Oxfam-Québec: close to $150,000 for microenterprise institutions in Burkina
Faso and Benin, and $145,000 to improve microfinance services in Nicaragua,
particularly for women.</span></span></p>
<br>
<p><span style="font-family: 'Arial', sans-serif"><span style="font-size: 12pt">For more information on Canada’s microfinance programs, please visit the CIDA
website at </span></span><a href="https://bac-lac.wayback.archive-it.org/web/20070221104039/http://www.acdi-cida.gc.ca/CIDAWEB/acdicida.nsf/En/RAC-1110131744-PG5"><span style="font-family: 'Arial', sans-serif"><span style="font-size: 12pt"><span style="color: #0000ff"><span style="text-decoration: underline">http://www.acdi-cida.gc.ca/CIDAWEB/acdicida.nsf/En/RAC-1110131744-PG5</span></span></span></span></a><span style="font-family: 'Arial', sans-serif"><span style="font-size: 12pt"><span style="color: #000000">. </span></span></span></p>
<br>
<p style="text-align: center"><span style="font-family: 'Arial', sans-serif"><span style="font-size: 12pt"><span style="color: #000000">- 30 -</span></span></span></p>
<br>
<p><span style="font-family: 'Arial', sans-serif"><span style="font-size: 12pt"><span style="color: #000000">A backgrounder is attached.</span></span></span></p>
<br>
<p><span style="font-family: 'Arial', sans-serif"><span style="font-size: 12pt"><span style="color: #000000">For further information, media representatives may contact:</span></span></span></p>
<br>
<p><span style="font-family: 'Arial', sans-serif"><span style="font-size: 12pt"><span style="color: #000000">Foreign Affairs Media Relations Office<br>
Foreign Affairs and International Trade Canada<br>
613-995-1874<br>
</span></span></span><a href="https://bac-lac.wayback.archive-it.org/web/20070221104039/http://www.international.gc.ca/"><span style="font-family: 'Arial', sans-serif"><span style="font-size: 12pt"><span style="color: #0000ff"><span style="text-decoration: underline">http://www.international.gc.ca</span></span></span></span></a><span style="font-family: 'Arial', sans-serif"><span style="font-size: 12pt"><span style="color: #000000"></span></span></span></p>
<p><span style="font-family: 'Arial', sans-serif"><span style="font-size: 12pt"><span style="color: #000000"><span> </span></span></span></span></p>
<p><span style="font-family: 'Arial', sans-serif"><span style="font-size: 12pt"><span style="color: #000000">Media Relations Office<br>
Canadian International Development Agency<br>
819-953-6534<br>
</span></span></span><a href="https://bac-lac.wayback.archive-it.org/web/20070221104039/mailto:info@acdi-cida.gc.ca"><span style="font-family: 'Arial', sans-serif"><span style="font-size: 12pt"><span style="color: #0000ff"><span style="text-decoration: underline">info@acdi-cida.gc.ca</span></span></span></span></a><span style="font-family: 'Arial', sans-serif"><span style="font-size: 12pt"><span style="color: #000000"><br>
</span></span></span><a href="https://bac-lac.wayback.archive-it.org/web/20070221104039/http://www.cida.gc.ca/"><span style="font-family: 'Arial', sans-serif"><span style="font-size: 12pt"><span style="color: #0000ff"><span style="text-decoration: underline">http://www.cida.gc.ca</span></span></span></span></a><span style="font-family: 'Arial', sans-serif"><span style="font-size: 12pt"><span style="color: #000000"></span></span></span></p>
<br>
<p style="text-align: center"><span style="font-family: 'Arial', sans-serif"><span style="color: #000000"><span style="font-weight: bold"><span style="font-size: 14pt">Backgrounder</span></span></span></span></p>
<p><span style="font-family: 'Arial', sans-serif"><span style="color: #000000"><span style="font-weight: bold"><span style="font-size: 14pt"><span> </span></span></span></span></span></p>
<p style="text-align: center"><span style="font-family: 'Arial', sans-serif"><span style="color: #000000"><span style="font-weight: bold"><span style="font-size: 14pt">CANADA’S NEW GOVERNMENT ANNOUNCES OVER $40 MILLION
FOR MICROFINANCE PROJECTS IN THE DEVELOPING WORLD</span></span></span></span></p>
<br>
<p><span style="font-family: 'Arial', sans-serif"><span style="font-size: 12pt"><span style="color: #000000">On November 12, 2006, at the Global Microcredit Summit in Halifax, Nova Scotia,
Canada’s new government announced over $40 million in funding to three Canadian
non-governmental organizations with a proven track record in microfinancing initiatives. </span></span></span></p>
<br>
<p><span style="font-family: 'Arial', sans-serif"><span style="font-size: 12pt"><span style="color: #000000"><span style="font-weight: bold">Développement international Desjardins (DID)</span></span></span></span></p>
<p><a href="https://bac-lac.wayback.archive-it.org/web/20070221104039/http://www.did.qc.ca/"><span style="font-family: 'Arial', sans-serif"><span style="font-size: 12pt"><span style="color: #0000ff"><span style="text-decoration: underline">http://www.did.qc.ca/</span></span></span></span></a><span style="font-family: 'Arial', sans-serif"><span style="font-size: 12pt"><span style="color: #000000"></span></span></span></p>
<p style="text-indent: -0.5in; margin-left: 0.5in"> </p>
<p style="text-indent: -0.5in; margin-left: 0.5in"><span style="font-family: 'Arial', sans-serif"><span style="font-size: 12pt"><span style="color: #000000">• <span>        </span>$19.85 million to enhance access to financial services for the poor living in 25
countries in Africa, Asia and Latin America, and for outreach activities in
Canada. Working with local partners, DID will focus on reducing poverty through
increased access to financial services, especially for women. This initiative builds
on 35 years of cooperation between the Canadian International Development
Agency (CIDA) and DID. Institutions supported by CIDA and DID currently offer
financial services that meet the needs of over 3 million people and have over
6,000 employees, some $750 million in savings and assets of about $1 billion.</span></span></span></p>
<p style="text-indent: -0.5in; margin-left: 0.5in"> </p>
<p style="text-indent: -0.5in; margin-left: 0.5in"><span style="font-family: 'Arial', sans-serif"><span style="font-size: 12pt"><span style="color: #000000">• <span>        </span>$1.3 million in support for the SANASA Co-operative Network’s post-tsunami
reconstruction and development efforts in Sri Lanka, which include construction
and operation of four community centres, and construction of houses and
playgrounds; lending and credit line services for the most vulnerable; and
reconstruction of financial data lost during the tsunami. The project will help 75 to
80 credit unions to restart their operations in the districts of Hambantota and
Batticaloa. Among the SANASA federation groups are 8,440 primary financial
cooperatives with 858,125 members.</span></span></span></p>
<br>
<p><span style="font-family: 'Arial', sans-serif"><span style="font-size: 12pt"><span style="color: #000000"><span style="font-weight: bold">Canadian Co-operative Association </span></span></span></span></p>
<p><a href="https://bac-lac.wayback.archive-it.org/web/20070221104039/http://www.coopscanada.coop/"><span style="font-family: 'Arial', sans-serif"><span style="font-size: 12pt"><span style="color: #0000ff"><span style="text-decoration: underline">http://www.coopscanada.coop/</span></span></span></span></a><span style="font-family: 'Arial', sans-serif"><span style="font-size: 12pt"><span style="color: #000000"></span></span></span></p>
<p style="text-indent: -0.5in; margin-left: 0.5in"> </p>
<p style="text-indent: -0.5in; margin-left: 0.5in"><span style="font-family: 'Arial', sans-serif"><span style="font-size: 12pt"><span style="color: #000000">• <span>        </span>$19.5 million to the continuing work of the program entitled Sustainable
Livelihoods through Cooperatives. Among its activities, the program is
developing and strengthening community-owned financial cooperatives to
increase the self-reliance of communities, increasing food self-sufficiency and
access to markets, and helping to develop locally controlled services to respond
to the health, housing and educational needs of poor communities in 17
countries in Africa, Central Asia and South America.</span></span></span></p>
<br>
<p><span style="font-family: 'Arial', sans-serif"><span style="font-size: 12pt"><span style="color: #000000"><span style="font-weight: bold">Oxfam-Québec</span> </span></span></span></p>
<p><a href="https://bac-lac.wayback.archive-it.org/web/20070221104039/http://www.oxfam.qc.ca/"><span style="font-family: 'Arial', sans-serif"><span style="font-size: 12pt"><span style="color: #0000ff"><span style="text-decoration: underline">http://www.oxfam.qc.ca/</span></span></span></span></a><span style="font-family: 'Arial', sans-serif"><span style="font-size: 12pt"><span style="color: #000000"></span></span></span></p>
<p style="text-indent: -0.5in; margin-left: 0.5in"> </p>
<p style="text-indent: -0.5in; margin-left: 0.5in"><span style="font-family: 'Arial', sans-serif"><span style="font-size: 12pt"><span style="color: #000000">• <span>        </span>Close to $150,000 for microenterprise institutions in Burkina Faso and Benin.
Aimed at youth aged 18 to 35, the initiative will increase employment
opportunities for youth in these countries through the creation of microenterprise
institutions. The project will also facilitate networking in the field of
entrepreneurship among youth organizations in Benin, Burkina Faso and
Quebec. In Burkina Faso, the project will work with two partner organizations and
will target approximately 200 youth, while in Benin, the project will work with 15
youth support groups and will target approximately 1,000 youth.</span></span></span></p>
<p style="text-indent: -0.5in; margin-left: 0.5in"> </p>
<p style="text-indent: -0.5in; margin-left: 0.5in"><span style="font-family: 'Arial', sans-serif"><span style="font-size: 12pt"><span style="color: #000000">• <span>        </span>$145,000 to Oxfam-Québec to improve microfinance services in the department
of Estelí, Nicaragua, particularly for women. This initiative will improve access to
financial services, increase agricultural productivity and improve living conditions
for workers. Approximately 50 farming families (especially those with female
heads of household) in the municipalities of Congeda and San Juan de Limay
will be reached by this project.</span></span></span></p>
<br>
<p><span style="font-family: 'Arial', sans-serif"><span style="font-size: 12pt"><span style="color: #000000">For further information on Canada’s microfinance programs, please visit the CIDA
website at
</span></span></span><a href="https://bac-lac.wayback.archive-it.org/web/20070221104039/http://www.acdi-cida.gc.ca/CIDAWEB/acdicida.nsf/En/RAC-1110131744-PG5"><span style="font-family: 'Arial', sans-serif"><span style="font-size: 12pt"><span style="color: #0000ff"><span style="text-decoration: underline">http://www.acdi-cida.gc.ca/CIDAWEB/acdicida.nsf/En/RAC-1110131744-PG5</span></span></span></span></a><span style="font-family: 'Arial', sans-serif"><span style="font-size: 12pt"><span style="color: #000000">.</span></span></span></p>
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