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Sustainable Economic Growth
Paragraphs Related to the Theme Paragraphs VII Summit

- Antigua and Barbuda - Argentina - Bahamas - Barbados - Belize - Bolivia - Brazil - Canada - Chile - Colombia - Costa Rica - Dominica - Dominican Republic - Ecuador - El Salvador - Grenada - Guatemala - Guyana - Haiti - Honduras - Jamaica - Mexico - Nicaragua - Panama - Paraguay - Peru - Saint Kitts and Nevis - Saint Lucia - Saint Vincent and the Grenadines - Suriname - Trinidad and Tobago - United States - Uruguay - Venezuela -
Date:  6/20/2010 
In April 2009, Canada temporarily provided the Inter-American Development Bank with US$4 billion in lending capital, providing added credit access for borrowing members. Throughout 2009 and into 2010, Canada has been active in capital increase discussions for both the Inter-American and Caribbean Development Banks. Canada is also working to ensure the right governance structures are in place at the international financial institutions, such as through domestic ratification of proposed reforms to establish more balanced and equitable representation at the International Monetary Fund and the World Bank.Regionally and bilaterally, Canada is contributing funds towards the establishment of a Regional Technical Assistance Centre for Central America and the Dominican Republic, which aims to improve governance in the areas of macro-economic, fiscal and monetary policy and practices, as a basis for improved economic growth and poverty reduction. In 2009, CIDA also provided support to Haiti for a Technical Support program, helping government institutions facilitate Haiti’s National Strategy for Growth and Poverty Reduction.
Paragraphs: 7 Paragraphs VII Summit: -

Date:  6/20/2010 
Canada supports equitable development in both large and smaller, more vulnerable economies via negotiation of free trade agreements, support for governance initiatives and through technical assistance. In 2009, CIDA announced a Trade-Related Technical Assistance Program to support partners’ abilities to use trade and investment to reduce poverty and promote sustainable development.

CIDA has contributed to sustainable economic growth in Haiti in a number of ways, including:
• a partnership with Developpement International Desjardins to support savings and credit cooperatives;
• support for economic and community opportunities for grassroots groups, and rehabilitation and construction of social and economic infrastructure; and,
• a partnership with the province of Quebec to strengthen public sector financial management.

CIDA has also contributed to the Caribbean Regional Technical Assistance Centre, which provides technical assistance and training in core areas of economic and financial management.

In 2009 Canada announced an Emerging Leaders in the Americas Program, which will expand an existing scholarship program to enable students from the Americas to come to Canada and study in fields which advance the economic, social and governance development in their countries.

Canada’s ability to support the sustainable development of the hemisphere is also enhanced in an ongoing way by organizations such as the Export Development Canada (EDC), the Canadian Commercial Corporation and the International Development Research Centre. For example, in 2009, EDC supported the construction of Phase 1 of the San Jacinto-Tizate Geothermal Energy Project in Nicaragua.

The Government of Québec supported the OAS Scholarships for Academic Studies program through differential tuition fees for ten students from various countries in the Americas. In addition and in response to the January 12 earthquake, the Government of Québec worked with the OAS to provide urgent support to 40 Haitian students whose studies were interrupted by the disaster.
Paragraphs: 12 Paragraphs VII Summit: -

Date:  6/20/2010 
In 2009, Canada released its corporate social responsibility strategy. The strategy includes measures to help Canadian extractive companies meet their social and environmental responsibilities abroad, and initiatives to build the capacity of developing countries to manage their natural resources in a sustainable manner. In 2009, Canada’s promotion of sustainable economic growth in Latin America and the Caribbean took many forms, including the following activities funded by the Canadian International Development Agency (CIDA):

• Two key infrastucture projects in Haiti: the Les Cayes-Jeremie road project, and the Routes des Rails road project. CIDA also provided support for a Haitian Centre for Professional Training.
• In Honduras, a 6-year program aimed at strengthening forestry co-operatives and promoting sustainable forestry practices.
• Support to the Partnership for CARICOM Private Sector Development, which, implemented by the International Finance Corporation, addresses the unique challenges to Caribbean private sector development.
Paragraphs: 13 Paragraphs VII Summit: -

Date:  6/20/2010 
Following up on Prime Minister Stephen Harper’s announcement at the Summit of the Americas in Trinidad and Tobago, Canada temporarily increased its callable capital at the Inter-American Development Bank (IDB) by US$4 billion. This measure significantly bolstered the IDB’s ability to promote regional economic growth by enhancing access to credit in the Americas.
Paragraphs: 20 Paragraphs VII Summit: -

Related Resources
Agence canadienne de développement international et les Amériques
Canada’s Capital Investment in the Inter-American Development Bank
Canada’s partnership with the Inter-American Development Bank
Canadian International Development Agency and the Americas
Corporate Social Responsibility
Department of Finance Canada
Export Development Canada
Foreign Affairs and International Trade Canada