Following a first meeting of development bank CEOs in 2010, several participating institutions suggested formalizing our cooperation. They confirmed the need for a regular exchange and decision forum on a CEO level that can help national and sub-regional development banks strengthen their voice in an environment dominated by multilateral financing institutions.
The formalization of IDFC constitutes a deepening and extension of long existing business relationships between our members and provides the chance to identify and develop future topics, markets and areas of cooperation. The network members will benefit from each institution’s local depth and competency, thus providing the opportunity to better position national and sub-regional development banks in global decision-making processes.
Objectives of the IDFC
The primary objectives of the International Development Finance Club reflect the accumulated experience of its Members and are the first such attempt to define and address the major obstacles facing development finance today.
These objectives are thus primarily strategic in nature. They are designed less to radically alter the global agenda than to focus it for greater cohesion and long-term benefit.
The IDFC objectives are:
- Agenda setting by joining forces and networking on issues of similar interest
- Identifying and developing joint business opportunities
- Sharing know-how and best practice experiences for mutual learning
The Members of the IDFC are committed to pooling their know-how and best practice experiences in strategic topics of mutual interest, including climate finance, infrastructure finance, social development, poverty reduction, green banking and innovation finance. These objectives further the vision and mission of the IDFC, and provide the practical framework within which current and future issues addressed by our work program are and will be formulated.
“Through this network we want to shape the international discussion on development finance by exchanging our know-how and experiences, as well as by bringing in our positions as national and sub-regional development banks on the global level."
L. Enrique Garcia, Vice-Chairperson of the IDFC and President of CAF (Corporación Andina de Fomento)