Overview of the Promise

During his campaign for prime minister, Mark Carney pledged to expand the lending capacity of FinDev Canada, the country's development finance institution. The expansion was intended to support the private sector in low-income and emerging economies through investments in infrastructure that reduces emissions, addresses global famine and food insecurity, and closes economic development gaps. This promise aligns with broader Liberal Party goals of promoting sustainable economic growth and climate action on an international scale.

Actions Taken by the Carney Government

As of August 29, 2025, approximately four months into Mark Carney's term as prime minister following the April 2025 election, there have been no specific announcements or initiatives directly related to expanding FinDev Canada's lending capacity. The government has focused on domestic economic challenges, such as trade diversification amid U.S. tariffs, port infrastructure funding, and support for sectors like auto and softwood lumber. While these efforts touch on economic development and emissions reduction domestically, they do not extend to FinDev's international mandate.

Carney has emphasized investing in growth and climate-friendly projects, including a proposed C$2 billion fund for the auto industry and measures to support trade resilience. However, these do not involve FinDev Canada or target low-income and emerging economies specifically.

Legislation Proposed or Passed

No legislation has been proposed or passed that directly addresses the expansion of FinDev Canada's lending capacity. The government has introduced a major projects bill aimed at fast-tracking infrastructure, such as port expansions in Montreal and Manitoba, but this is focused on domestic priorities rather than international development finance. Broader environmental policies, like potential changes to impact assessment legislation and emissions caps, have been discussed, but they do not pertain to FinDev's role in global investments.

Progress on Specific Outcomes

The promise includes several targeted outcomes: investing in infrastructure that reduces emissions, addresses global famine and food insecurity, and closes economic development gaps in low-income and emerging economies. To date, there is no evidence of progress on these fronts through FinDev Canada. While Carney has spoken about Canada's role in global climate action and economic resilience, including private finance's role in meeting 2050 emissions goals, these statements have not translated into concrete actions for FinDev. For instance, investments in emission-reducing infrastructure abroad remain unaddressed, as do initiatives tackling food insecurity or development gaps via expanded lending.

Overall Status

This promise is not started.