Financial assistance

Over the years, Giolong International has worked with many firms establishing businesses in foreign countries. The Giolong team can help you perform viability studies and advise you on applying for and obtaining financial assistance. Grants are available for projects in a number of eligible countries.

This financial assistance is granted by the Canadian  Department of Foreign Affairs and International Trade (DFAIT) to Canadian companies wishing to develop their markets and contribute to international development through economic projects (DFAIT-INC program). One of DFAIT-INC’s strategic goals is to support private sector development in developing or in-transition countries by creating jobs, increasing local capacity, and strengthening local economies.

Program

The  DFAIT-INC program achieves this by sharing some of the costs involved in studying the technical feasibility and economic viability of an investment, demonstrating and adapting appropriate technologies, and undertaking activities aimed at making investments, including public investments, more sustainable. INC is part of Canada’s Official Development Assistance for developing countries and is managed by Foreign Affairs and International Trade Canada. The program does not finance the actual investment but provides financial contributions for activities surrounding a proposed or existing investment.

Eligibility

Applicants must meet certai criterias in order to receive support under the program. These criteria have been established to ensure that the program supports only projects that are most likely to meet the program’s objectives of creating employment and economic growth in eveloping countries.

Eligible recipients of an INC contribution must:

• be private sector firms ( for profit firms), in operation for at least  three years, and registered in Canada
• be financially sound and have the capacity to implement the proposed investment; or are seeking support related to an existing investment or contract
• have at least $2 million in annual revenues in both the previous two years
• demonstrate a positive recent earnings/ pofit performance
• sufficient liquidity in relation to the size of the investment
• have the absorptive capacity necessary to take on obligations related to the eventual investment.

Furthermore, applicants eligible to this program must:

• have already undertaken preliminary research on the project
• have already visited the targeted country
• have established contacts with clients or with a prospective partner in the targeted country
• demonstrate a commitment to the project.

The DFAIT- INC program can contribute to examining the viability of a direct investment of $500,000 or more, demonstrating technologies related to that investment, and studying and implementing initiatives that enhance the development impact of a proposed or existing investment. INC will also provide support for activities that enhance the development impact of a services contract valued at $1 million or more that is being executed by an eligible Canadian firm.

Applicant’s guide

More details concerning the INC program are available through the APPLICANT’S GUIDE, provided by the DFAIT-INC.

Please consult page 5 to get to know more about the phases of support and the maximum contribution Levels.