Project profile — Toronto Centre - Strengthening financial sector supervision and regulation – 2024 to 2028



Overview 

CA-3-P013455001
$20,000,000
Toronto Centre (CA-CRA_ACR-2867901191)
2023-12-20 - 2028-12-31
Operational
Global Affairs Canada
YFMInternaAssistPartnershp&Programing Br

Country / region 

• Africa, regional (40.00%)
• America, regional (22.00%)
• Asia, regional (33.00%)
• Europe, regional (5.00%)

Sector 

• Financial policy and administrative management:
Financial policy and administrative management (24010) (60.00%)
Monetary institutions (24020) (10.00%)
Formal sector financial intermediaries (24030) (10.00%)
Informal/semi-formal financial intermediaries (24040) (10.00%)
Remittance facilitation, promotion and optimisation (24050) (10.00%)

Policy marker 

• Gender equality (significant objective)
• Environmental sustainability (cross-cutting) (not targeted)
• Participatory development and good governance (not targeted)
• Trade development (not targeted)
• Biodiversity (not targeted)
• Climate change mitigation (not targeted)
• Climate Change Adaptation (not targeted)
• Desertification (not targeted)
• Urban issues (not targeted)
• Children's issues (not targeted)
• Youth Issues (not targeted)
• Disaster Risk Reduction(DRR) (not targeted)
• Indigenous Issues (not targeted)
• Disability (not targeted)
• Nutrition (not targeted)
• ICT as a tool for development (not targeted)

Description 

This project supports Toronto Centre’s efforts to deliver effective institutional capacity-building programs that promote financial stability and financial inclusion in developing countries. Toronto Centre provides intensive assistance globally, focusing on Sub-Saharan Africa, the Indo-Pacific, and special assistance to Ukraine. For the project’s duration, Toronto Centre’s priorities, as integrated into their core capacity development programs, include: (1) advancing financial inclusion and gender equality; (2) strengthening capacity to manage climate change and biodiversity loss-related risks in financial systems; and (3) accelerating financial sector support for food security amid geopolitical risks. Project activities include: (1) delivering technical, leadership, and supervisory guidance in capacity-building and training programs to financial supervisors in developing countries. This is done through practical and interactive teaching methods developed through a climate and gender lens; (2) offering a Certified Financial Supervisor (CFS) designation; and (3) developing supervisory guidance resources (Toronto Centre notes, webinars, podcasts) supporting developing countries.

Expected results 

The expected outcomes of this project include: (1) increased effectiveness of financial sector supervisory and regulatory personnel in developing countries supporting financial stability and increased financial inclusion for women and girls; and (2) enhanced application of gender and environmental sensitive supervisory and regulatory frameworks, structures and associated policies and practices by financial supervisory and regulatory agencies in developing countries.

Results achieved 

N/A

Budget and spending 


Original budget $4,000,000
Planned disbursement $4,000,000
Transactions
Country percentages by sector
Type of finance Aid grant excluding debt reorganisation
Collaboration type Bilateral
Type of aid Project-type interventions