The Deputy Secretary ((International Development)) of State Randeep Sarai announced $ 51.5 million in new international assistance funding Friday aimed at boosting innovative financing and expanding private investment in developing countries.

Sarai, concluded an official visit to Paris, France, from April 28 to 30, during which he represented Canada at the G7 Development Ministers’ Meeting.

Under France’s G7 presidency, this year’s meeting focused on advancing a renewed approach to development grounded in mutually beneficial partnerships. Discussions covered key priorities, including building consensus on a new development model, addressing the impacts of the Middle East crisis on vulnerable countries, closing the global infrastructure investment gap and strengthening the international financial architecture to better support partner countries.

During his visit, Secretary of State Sarai announced $51.5 million in new international assistance programs to mobilize private capital and blended finance solutions, strengthen global impact investing and increase infrastructure development.

While in Paris, Secretary of State Sarai participated in a reception marking the second meeting of the G7 Infrastructure Investment Council, alongside representatives from G7 development finance institutions, international financial institutions and the private sector. He emphasized that closing the global infrastructure gap is not only a financing challenge but a development, economic and security priority. He highlighted the importance of coordinated public and private investment to mobilize private capital at scale—an approach Canada is advancing through FinDev Canada’s work to support high‑impact, sustainable infrastructure investments in emerging markets.

Throughout the meeting, Secretary of State Sarai also highlighted Canada’s efforts to deliver tangible results by strengthening communities and contributing to global stability, prosperity and security. 

He underscored Canada’s commitment to partnering with developing countries to support them in advancing their priorities and independence, while growing economic opportunities that benefit everyone. This was reinforced by Canada’s recent announcement of a goal to deliver over $13 billion in international climate finance to developing countries over the next five years, including through FinDev Canada, Global Affairs Canada, and Environment and Climate Change Canada.