The Asian Development Bank (ADB) President Masato Kanda wrapped up a visit to Canada this week, meeting with government officials and business leaders to explore deeper collaboration on private sector projects, energy security, and supply chain resilience, the bank reported.
The meetings in Ottawa and Toronto focused on how Canadian expertise and capital can help deliver sustainable growth across Asia and the Pacific. Kanda said “Canada has been a trusted partner of ADB for more than half a century” and the visit reinforced their shared commitment to creating opportunities in the region. The discussions covered concrete pathways from the ASEAN Power Grid to critical minerals development. Canada has been a founding ADB member since 1966 and contributed over $516 million to bank trust funds.
Canada’s involvement in Asian development has grown as the country seeks to expand its Indo-Pacific presence and compete with China’s Belt and Road Initiative. The government launched its Indo-Pacific Strategy to strengthen economic ties and advance climate action in the region. Canadian pension funds and institutional investors have been looking for opportunities to finance infrastructure projects in Asia, where needs are estimated at $1.7 trillion annually. The country has recognized global leadership in clean technology, sustainable infrastructure, and critical minerals that Asian markets need.
In Ottawa, Kanda met with Secretary of State for International Development Randeep Sarai and participated in discussions at Global Affairs Canada about mobilizing private capital and regional integration. Toronto meetings included talks with Export Development Canada’s President Alison Nankivell on new avenues for Canadian trade and investment in Asia. A roundtable luncheon with Canadian business leaders hosted by Gowling WLG focused on how ADB can help Canadian companies navigate growing business opportunities across the region. The conversations highlighted sectors where Canada has strong capabilities that match Asian development needs.
The visit shows alignment between ADB priorities and Canada’s Indo-Pacific Strategy, particularly around economic resilience, climate action, and gender equality. Kanda discussed opportunities for Canadian pension funds, banks, and institutional investors to finance sustainable infrastructure and clean energy projects using ADB guarantees and risk-sharing mechanisms. Canada’s contributions have helped mobilize private investment and promote gender equality across Asia and the Pacific through the Canadian Climate and Nature Fund for the Private Sector in Asia, which has received $267 million. These partnerships help Canadian companies access Asian markets while supporting regional development goals.
