Deetken Impact will mobilize at least $20 million in investments to advance inclusive economic growth, create jobs and address some of the root causes of irregular migration in El Salvador.
Vancouver, BC (April 5, 2022) – Impact asset manager Deetken Impact today announces a partnership with the United States Agency for International Development (USAID) to accelerate economic opportunities that support job creation, and address some of the root causes driving irregular migration in El Salvador. The Investment, Enterprise and Sustainability or “INES” program identifies and supports at least 10 projects in El Salvador to raise capital for business expansion that will create jobs. The selected projects will be drawn from sustainable economic sectors that support long-term economic growth and development of the formal economy while also generating meaningful social or environmental benefits, such as renewable energy, trade infrastructure, financial inclusion, and sustainable manufacturing. The INES program is part of a USAID initiative to advance free-market, open, and enterprise-driven development in order to foster growth and jobs in the formal economy.
Pipeline development and Call for Projects
Deetken Impact conducted a review of investment opportunities in El Salvador to build a pipeline of potential candidates for acceleration. This pipeline was informed in part through a public Call for Projects, through which project sponsors, entrepreneurs and company management teams were invited to submit projects or corporate investment opportunities that would benefit from INES support.
“We identified many high-quality projects and businesses in El Salvador with the potential to foster economic opportunity and support long-term development of the region. Through INES, we are now working closely with project sponsors and management teams to understand and overcome the barriers they may face to raising capital.”
Alexa Blain, Managing Partner – Deetken Impact.
Integrated and comprehensive project acceleration
INES offers integrated and comprehensive acceleration and project development services including gap analysis, support to de-bottleneck projects by advancing legal, market or permitting issues, and capital raising advisory services. Services are tailored to each project and designed to rapidly accelerate projects to bankability at various readiness levels. INES’ acceleration services in the trade infrastructure space are supported by CPCS, a global management consulting firm.
“The opportunity for private infrastructure investment in El Salvador is significant and is critically important to growth of the formal economy and to reducing gaps in access to essential services. But these projects can be complex, and many need specialized expertise to be successful. We are proud to be working with INES to get more projects across the finish line.”
Robert Graham, co-Managing Director of CPCS
Capital mobilization
INES supports projects selected for acceleration to raise and close on capital. Together with its joint venture partners, Deetken Impact Sustainable Energy and Deetken Impact Alternative Finance, Deetken Impact manages five impact investment funds with a mandate to invest in El Salvador. Deetken Impact brings this investor perspective to its engagement with selected projects, helping to support fundraising through development of investor materials, investor outreach and transaction negotiation support.
“Investing in sustainable enterprises is our core business. Through INES, we will share what we know works well to convert promising projects and companies into bankable recipients of financing that lead to implementation. We will prioritize comprehensive business incubation with clear setting of financial, social and environmental impacts, keeping in mind that ultimately it is about creating jobs and durable prosperity for the benefit of El Salvador.”
Fernando Alvarado, Managing Partner of Deetken Impact and CEO of Deetken Impact Sustainable Energy.
About Deetken Impact:
Deetken Impact is a Canadian registered investment fund manager with a 10-year track record of delivering strong, stable returns to investors by supporting businesses that make a meaningful contribution to the Sustainable Development Goals. Together with its joint venture partners, Deetken Impact Sustainable Energy and Deetken Impact Alternative Finance, Deetken Impact currently manages US$150 million in impact assets. In 2022, Deetken Impact was selected to the ImpactAssets 50 Impact Investment Fund Manager Showcase.
About CPCS:
CPCS is a global management consulting firm specializing in infrastructure. CPCS solves challenges specific to transport, power and infrastructure finance and transactions. CPCS also works as a project developer, developing or advising on the development of early-stage infrastructure projects from concept through to mobilization of finance. CPCS has completed more than 1,500 projects in over 110 countries globally.