Our latest news
Seven IDFC members initiatives selected out of the 100 #SolutionsforPeace Projects
100 days before the First Global Meeting of all Public Development Banks
10-12 November 2020
On August 3rd, 2020 the Paris Peace Forum, that will host, during its third edition, the First Finance in Common (FIC) Summit, co-initiated by IDFC and the World Federation of DFIs (WFDFI) and convened by Agence Française de Développement (AFD- French Development Agency) in Paris but also virtually, revealed the 100 Selected Projects to participate from 11 to 13 November 2020. Among those seven projects are from IDFC members including the IDFC Climate Facility, first operational instrument of the Club !
The Paris Peace Forum (PPF) was created to respond to this crisis of multilateralism, which is not new but has sharply increased in 2020. Given the scale of the challenges before us, the Forum will devote its third edition to projects and initiatives from around the world aimed at providing immediate responses to the Covid-19 crisis, improving our resilience in the medium term, and rebuilding a more sustainable world.
The third edition of the Paris Peace Forum will be the first event on the international calendar focused on constructing a better world post-pandemic. As the Paris Peace Forum convenes actors of change from around the world to discuss global governance and multilateralism, the Finance in Common (FIC) Summit will be one of the main highlights of the third edition, gathering a new community comprised of more than 450 Public Development Banks (PDBs). The FIC Summit will address our common need to build new forms of prosperity that take care of the living (people and planet) in a resilient manner.
The objective of the Finance in Common Summit is twofold :
- to build a new and powerful coalition of all 450 public development banks to promote cooperation among them and;
- to bring together the financial community, both public and private, to give us the means to take collective action against COVID-19 and in favor of climate and SDGs.
The IDFC, one of the key actors in this event, which objectives are closely in line with the Club mandate and vision, is heavily involved in the preparation of the FIC Summit, through also its members operational experiences, demonstrated by they strong response to the PPF Call for Projects.
The PPF Call for Projects launched in March 2020 received more than 850 applications – a record since the creation of the Forum – from all types of actors: NGOs, companies, international organizations, states, local authorities… This is a sign that, despite the pandemic, there remains an astounding reservoir of international cooperation and a willingness to respond to the crisis collectively.
Among the 100 projects selected as Solutions to bounce back from Covid-19 crisis 11 are led by Public Development Banks and among them 7 are IDFC members projects, including the IDFC Climate Facility!
Congratulations to our colleagues from the Agence Française de Développement (AFD), Cassa de Depositi e Prestiti (CDP), Development Bank of Southern Africa (DBSA), the Indonesia Infrastructure Development Bank PT SMI and the Russian Development Bank (VEB) for this great acknowledgement. More details on the selected projects available at https://bit.ly/3fw4Orv.
UN High-Level Event on Financing for Development in the Era of COVID-19 & BeyondCovid19
Remy Rioux, IDFC Chairperson Intervention
May 28th, 2020
The IDFC Chairperson and Agence française de développement (AFD) CEO, Rémy Rioux, talked on May 28th, 2020 during the United Nations (UN) High-Level Event on Financing for Development in the Era of COVID-19 and Beyond convened by the Prime Minister of Canada, H.E. Mr. Justin Trudeau, the Prime Minister of Jamaica, H.E. Mr. Andrew Holness, and UN Secretary-General António Guterres, the virtual event aims to advance concrete solutions to the development emergency caused by the COVID-19 pandemic.
Mr. Rioux intervened alongside heads of states, CEOs of international organizations and leaders of CSOs underlined that public development banks in financing SDGs should leave no one behind. He added that, particularly in time of crisis there is need to create new, innovative and comprehensive international coalitions, instilling hope, building momentum and strongly supporting multilateralism.
This is the reason why the IDFC is strongly involved in the “Finance in Common Summit”, on 12th November 2020, in partnership with the Paris Peace Forum, during which all 450 Public development banks in the world will gather for the first time, with all willing stakeholders and with the support notably of UN DESA and UNDP. The public development banks already represent 10% of total annual global investments. They are already playing a countercyclical role nowadays and are eager to do more.
Along with the World Federation of DFIs, colleagues from Multilateral Development Banks and the regional associations of Public Banks, the IDFC members are working together to forge a global response to the COVID-19 development challenges in the future. Read the full speech.
IDFC is building a Collective Response to Covid-19 CrisisCovid19
IDFC combating Covid-19 by stepping up efforts towards building more resilient economies for people & planet
As the world is facing an unprecedented crisis caused by COVID-19, IDFC members have been mobilizing their full set of instruments and financial capacity.
IDFC is committed to capitalizing on its members respective experiences to respond to the crisis with the view to structure the most adequate collective answer to support a sustainable and inclusive economic and financial recovery.
IDFC members actively respond to the situation with a full set of measures with the view to structure the most adequate collective answer to support a sustainable and inclusive economic and financial recovery. All these initiatives are attached to this press release and will be regularly updated on IDFC website.
NDBs: Building bridges between Public & Private climate action at OECD PF4SD Conference in ParisClimate
National development banks: Building bridges between Public and Private Climate Action
OECD Private Finance for Sustainable Development (PF4SD) Conference
On January 28, 2020 the Organisation for Economic Co-operation and Development (OECD) hosted in Paris the 2020 Private Finance for Sustainable Development (PF4SD) Conference. It was the occasion for the International Development Finance Club (IDFC) to demonstrate how National and Regional development banks are poised to play a key role in aligning private finance with the SDGs and the objectives of the Paris Agreement.
The OECD, IDFC and the Overseas Development Institute (ODI) jointly organized this side event to discuss the role of development banks, to collate evidence on challenges to unlock their potential, and explore opportunities to address these challenges. While the assets under management in development banks dwarf multilateral development bank financing in many developing countries, their transformative potential goes beyond the sheer volumes of finance provided. Their unique value added lies in the ability to support policy makers and market creation, the provision of local currency financing and their role in intermediating international climate finance.
Moderated by Jonathan Coony, Senior Climate Finance Specialist, World Bank, benefitting from the crossed remarks by Jorge Moreira da Silva, OECD Director for Development Co-operation Directorate and Rémy Rioux, IDFC Chairperson and AFD CEO, the discussion drew on key messages of the OECD report ‘Scaling up climate-compatible infrastructure: Insights from national development banks in Brazil and South Africa’ and the launch of a new ODI report ‘Securing climate-smart investment through national development banks’ presented by Samantha Attridge, ODI Financial Markets Director. Astrid Manroth, Director for the Finance Strategy of the European Climate Foundation (ECF), pointed out the comparative advantages of development banks in climate finance.
Several IDFC members, such as Admassu Tadesse, President and Chief Executive, Eastern and Southern African Trade and Development Bank (TDB), Nabil Moura Kadri, Head of Department, Environment and Amazon Fund, Brazil Development Bank (BNDES), Mohan Vivekananda, Development Bank of Southern Africa (DBSA) Group Executive for Client Coverage & Origination and Refik Akıncı, Turkiye Sinai Kalkinma Bankasi (TSKB)’s Sherpa for IDFC and Director of IDFC Climate Facility Coordination Unit were participating in the side event illustrating the role of their institution with concrete examples and explained their strategy in raising ambition within the Framework of the Paris Agreement on climate change.
IDFC is at COP25 in Madrid, Spain !Climate
Join IDFC Pavilion at COP 25 !
2-13 December 2019, Madrid, Spain, IFEMA, Hall 8 – In front of Spain Office
For the first time this year IDFC will have its own pavilion at COP25 !
The IDFC Pavilion will be located at the IFEMA Convention Center in Hall 8 just in front of Spain Office. The IDFC Pavilion will be inaugurated on Tuesday 3rd December by Rémy Rioux, IDFC Chairperson and Agence Francaise de Developpement (AFD) CEO. On the same day, the IDFC team will also present the first operational instrument of the Club the IDFC Climate Finance Facility. We invite you all to join us at the Press Conference and the Cocktail that will joyfully end this day.
The IDFC Pavilion will host IDFC members and partners Side Events throughout the two weeks of the COP25 to exchange on Development Finance Institutions alignment on the Paris Agreement, Climate and Biodiversity, role of development banks in Climate Action. Consult the full IDFC Pavilion Programme of Events.
See below the list of our Day by Day Side-Events :
Tuesday 3rd of December
15:30 to 16:00 : Inauguration of the Pavilion in presence of Rémy Rioux, IDFC Chairperson and Agence Francaise de Developpement CEO
16:30 to 18:00 : Kick Off IDFC Climate Facility
18:00 onwards : IDFC Cocktail
Thursday 5th of December
15:00 to 17:30 : Development Bank of Latin America (CAF) : Expert Dialogue on Bioenergy and Climate Ambition
17:30 onwards : CAF Cocktail
Friday 6th of December
11:30 to 13:30 : Development Bank of Latin America (CAF) : Climate finance for the new sustainable economy
14:00 to 15:00 : Japan International Cooperation Agency (JICA) : Multi-Stakeholder Dialogue for Southeast Asian Cities on the Rise
18:30 onwards : AFD Adapt’Action Facility Cocktail
Saturday 7th of December
17:00 to 19:00 : IDFC Closed door session – Alignment & Green Finance Mapping Worskhop (open to IDFC members only)
19:00 onwards : IDFC Cocktail
Monday 9th of December
13:30 to 14:45 : World Resources Institute (WRI) : Enhancing Climate Ambition and Social Justice in 2020 revised NDCs
15:00 to 17:00 : Development Bank of Latin America (CAF) : Building resilience in the vulnerable coastal cities in Latin America within the Adaptation Fund Regional Programme
Tuesday 10th of December
17:30 to 19:30 : Development Bank of Latin America (CAF) : Climate Change : The new evolutionary challenge for the Galapagos
19:30 onwards : CAF Cocktail
Wednesday 11th of December
11:00 to 12:00 : Development Bank of Latin America (CAF): Cities and Climate Change LAIF Program – Readiness GCF Program
17:30 to 18:30 : IDFC Climate Facility : What’s Up ?
18:30 onwards : IDFC Cocktail
IDFC Annual Meeting 2019 : Rémy Rioux Reelected as Chairperson of an extended ClubGeneral
IDFC 2019 Annual Meeting in Washington D.C.:
Accession of two new members
Reelection of IDFC Steering Group and Rémy Rioux as IDFC Chairperson
A second term focusing on setting Development Banks at the core of International Development Architecture while reinforcing IDFC operational capacity
At its 2019 Annual Meeting held in Washington D.C. on October 20th, the members of the Club officially elected its Steering Group and Rémy Rioux, Agence Française de Développement (French Development Agency CEO, for a second term as IDFC Chairperson. Rémy Rioux presented his roadmap for this new term with a strong focus on putting Development Banks as core actors in aligning finance with Paris Agreement and Sustainable Development Goals while giving the Club a stronger operational capacity to deliver on its mission.
“ I am also committed to unleashing the full potential of public national and regional development banks to best deploy and facilitate increased investments towards low-carbon and resilient trajectories; advancing the needed sectorial and national transitions to sustainable development; and making a systemic contribution to the achievement of the objectives of both the Paris Agreement and the 2030 Agenda of Sustainable Development.” Rémy Rioux said. “In practice, we propose that, under UN sponsorship, a Summit of Development Banks be organized in 2020, ahead of COP 26, to mobilize all development finance institutions worldwide as well as the broad spectrum of their stakeholders, with a view of further tapping their decisive potential” Rémy Rioux added.
On this occasion IDFC members also reelected and extended its Steering Group – chaired by the French Development Agency (AFD) and co-chaired by the Development Bank of Brazil (BNDES), the Latin American Development Bank (CAF), the China Development Bank (CDB), the Moroccan Caisse de dépôt et de gestion (CDG), the Development Bank of Southern Africa (DBSA), the Islamic Corporation for the Development of the Private Sector (ICD), the Japan International Cooperation Agency (JICA) and the German Development Bank (KfW)– by allowing the Industrial Development Bank of Turkey, TSKB, to join the decision-making group of the Club.
The Annual Meeting was also the venue to welcome officially two new members: the Argentine development bank, Banco de Inversión y Comercio Exterior (BICE) mainly focusing on SMEs and private sector development and PT Sarana Multi Infrastruktur (Persero) (PT SMI), the Indonesian public bank for infrastructure development.
The Annual Meeting offered the opportunity to review IDFC Work Program reflecting the commitments towards the Sustainable Development Goals. In particular, IDFC released a Joint Statement on Gender Equality and Gender Equity highlighting IDFC members’ commitment via both internal and external policies for gender equality and gender equity issues, which are key catalysts for sustainable development.
In the view of fostering and deepening cooperation, IDFC released for the first time its Cooperation for Development Report assessing the level and quality of the cooperation among members and highlighting opportunities to reinforce it. IDFC also produced a report providing an Overview and benchmark of Blended Finance and a Panorama of Sustainable Investments Initiatives and Networks.
Read the full press releases on :
IDFC & the World Federation of Development Financing Institutions jointly call for a Summit of Development BanksGeneral
The International Development Finance Club (IDFC) and the World Federation of
Development Financing Institutions (WFDFI)
jointly call for a Summit of Development Banks to fully tap the potential of Development
Finance institutions towards the Paris Agreement and SDGs agendas
For the first time, the WFDFI, the World Federation of Development Financing Institutions, regrouping the Continental Associations of Development Finance Institutions in Africa, Asia-Pacific, the Middle East, Latin America and the Caribbean, and IDFC, the international group of 26 leading national and regional development banks, invited each other to participate at their respective Board of Governors Meeting (WFDFI) and Annual Meeting (IDFC), both held in Washington, D.C. on October 18 and 20, to bundle the potential of all development banks worldwide to promote and leverage sustainable development investment.
IDFC releases its Contribution to UN Climate Action Summit 2019Climate
On the occasion of the UN Climate Action Summit, IDFC reaffirms its role as a major stakeholder and solution provider in the financing for sustainable development and IDFC strengthens its quantitative and qualitative contributions to low carbon and climate resilient development.
The Club can act as the major promoter of the redirection of financial flows towards climate and sustainable development investment.
IDFC delegation in New York composed of IDFC Chairperson and AFD CEO Rémy Rioux, DBSA CEO Patrick Dlamini, CAF Secretary General Victor Rico, and KfW Development Bank Head of Energy and Climate Peter Hilliges conveyed IDFC’s messages in front of journalists on the sidelines of UN Climate Action Summit.
You can find the full Communiqué here
IDFC at the UN High-level Political Forum (HLPF) on Sustainable Development, NYCClimate
For the first time an IDFC delegation composed of Rémy Rioux, IDFC Chairperson & French Agency for Development (AFD), Patrick Dlamini, Chief Executive Officer and Managing Director of the Development Bank for Southern Africa and Ayman Sejiny, Chief Executive Officer of the Islamic Corporation for Development of Private Sector attended the United Nations High-Level Political Forum (HLPF) for Sustainable Development from 15th to 18th of July 2019.
On this occasion, the delegation had the great honor to meet with Antonio Gutteres, UN Secretary General to exchange on the IDFC role on Climate Action and SDGs attainment.
On the perspective of the forthcoming UN Climate Action Summit, the delegation shared with the UN SG and also with Amina Mohammed, UN Deputy Secretary General
and with Luis Alfonso de Alba UN SG Special Envoy for the Climate Summit 2019
On the margin of the HLPF, during the Green Climate Fund High Level Side Event on “Strengthening Synergies : the role of the GCF in implementing the Paris Agreement & the 2030 Agenda”, the delegation reiterated its support to the GCF institutionalized by the recent signing of the GCF-IDFC Partnership Statement.
Patrick Dlamini, DBSA CEO, noted that GCF replenishment is needed for developing countries to meet the Paris Agreement goals. “If more and more countries come forward to replenish GCF, we’ll have a much better chance of achieving and successfully implementing the Paris Accord as well as making sure that SDGs are achieved”
Rémy Rioux also praised the successful GCF replenishment :”GCF is the main and only multilateral fund that is open to us. It is a place of innovation because of its flexibility. It has capacity that is very unique. IDFC members are the strongest advocate for the Fund and we hope for strongest possible replenishment” Read the full Press Release on the GCF Replenishment for more details.
Overall, a great collective IDFC mission to fulfill our mission in advocating for Sustainable Development Investment and Climate Finance support.
IDFC & the GCF sign a Statement of Partnership to join forces in fighting Climate ChangeClimate
On the occasion of the IDFC 2019 Steering Group Meeting, hosted by its Moroccan member the Caisse de Dépôt & de Gestion (CDG Group), Rémy Rioux, IDFC Chairperson and CEO of AFD and Yannick Glemarec, GCF Executive Director, signed an IDFC-GCF Partnership Statement establishing a framework for collaboration to strengthen climate action and the promotion of joint initiatives, in the following areas:
- Sharing knowledge for climate finance and action
- Integration of climate considerations within financial institutions
- Facilitation of access to GCF resources with co-financing from IDFC members and support to capacity building activities
- Outreach and awareness raising
You can also read the full Partnership Statement here.
Conference on National Development Banks: Supporting the SDGs & Structural Transformation, Beijing, ChinaSDGs Achievement
On May 28th, 2019 the Institute of New Structural Economics at Peking University (INSE), the Research Institute of China Development Bank and the French Agency for Development (AFD) , co-organized this conference. This one day event gathered Chinese and international scholars, think tanks and members of the development finance community, including members of IDFC, from all continents. The Conference was opened by Rémy Rioux, AFD CEO and IDFC Chairperson, Yong Liu, China Development Bank (CDB)’s Chief Economist and Dean of Research Institute and Justin Yifu Lin, INSE Professor and Dean. “‘Thinking globally and acting locally : National Development Banks are key to achievement of the SDGs” said Rémy Rioux.Hamid Tawfiki , CEO of CDG Capital, member of the CDG Group, Mutsuya Mori, JICA Vice President, Michael Hillary, DBSA Group Director, Financing Operations, Dr. Wolfram Erhardt, Director of KfW Beijing office, Leonardo Botelho, BNDES Head of the Cooperation and International Relations Department and Carlo Segni, Gruppo CDP Head of Cooperation and Development participated in panel discussions to delve deeper into the nature and role of national development in addressing SDGs and Climate Finance, their function in promoting economic structural transformation. Together with experts, scholars, policy-makers, practitioners, and other stakeholders in the field of DFIs this event fostered the reinforcement of a vibrant community of DFI research and practice. The event was also be the opportunity to present and discuss the latest analytical pieces of work produced by the Institute of New Structural Economics, the China Development Bank and the Center for Global Development study on IDFC and SGDs.
View the China Global Television Network Video on the conference (French)
IDFC at 49th ALIDE General Assembly in Madrid, SpainInternational Event
At the invitation of Instituto de Crédito Oficial (ICO), Casa de América in Madrid, Spain was the venue for the Forty-ninth Regular Meeting of the Latin American Association of Development Financing Institutions (ALIDE) General Assembly, that took place from Monday through Wednesday, May 20 – 22, 2019. This is the summit meeting of the Latin American and Caribbean development banking system where key aspects and trends affecting the region’s development and its financing, together with the role of those institutions, are analyzed. This year theme was : Experiences and Financial Cooperation Europe-Latín America
IDFC members representatives including Alexis Bonnel, IDFC Sherpa from AFD, Johannes Scholl, in charge of the Energy division & Latin America Financial Sector at KfW and Javier Diaz Fajardo, President of Bancoldex, actively participated in the event and discussed best practices to help aligning all financial flows with the Paris agreement and promote sustainable development investment with Javier Manzanares, Deputy Executive Director, Green Climate Fund (GCF), Jeannette Ruiz, President, Banco Nacional de Costa Rica, Eric Usher from UNEP FI and Justine Leigh-Bell, Director Market Development, Climate Bonds Initiative
The Latin American Association of Development Financing Institutions (ALIDE) is the international organization that represents Latin American and Caribbean development banking. It was created in 1968 and, at the invitation of the Government of Peru, established its permanent headquarters in Lima, Peru’s capital city.The programs, projects, activities and services the Association promotes and carries out are aimed at fostering the unity and strengthening the joint action and coordinated participation of the development banks and financial institutions in the region’s socioeconomic progress.
IDFC at One Planet Summit Africa’s Pledge in Nairobi, KenyaClimate
IDFC at the One Planet Summit in Nairobi: Africa Pledge
The One Planet Summit, since its first edition in 2017 mobilizes the International Development Finance Club. For this first regional edition of the One Planet Summit, the unique role of Africa will be highlighted as a global partner facing both challenges and opportunities, in particular in the field of innovative solutions for adaptation and resilience. The Summit will bring together high-level officials, CEOs and inspiring voices from youth, and civil society to showcase concrete achievements and breakthrough initiatives, and trigger new coalitions and commitments. Designed as a full day of High-Level conversations and Coalition building for Climate and Environmental action in Africa, the event will start just before the opening of the high-level segment of UNEA-4, in a dedicated venue on the UN Compound in Nairobi, on March 14, from 9 am to 5 pm. See the full programme here
During the Summit, the Trade Development Bank (TDB), member of IDFC, regional development bank operating in East Africa, based in Nairobi is representing the Club. TDB President Admassu Tadesse will speak as keynote speaker at the opening of the « Sectorial Deep Dive Accelerating the Transition for All – Alignment of Development Bank with the Paris Agreement and Long Term Sustainable Financing in Africa ». This session of Deep Dive, from 14:00 to 15:00 on March 14, will aim to continue the discussions initiated during the COP 24 on the operationalization of the alignment with the Paris Agreement for development banks, especially in the African context, as well as the different tools, processes, methodologies and actions of financial institutions to accelerate climate finance in Africa. In addition to TDB, high-level stakeholders and a variety of institutions, including from the private sector, will be represented, including the Green Climate Fund, fellow IDFC member the Development Bank of Southern Africa (DBSA), the African Development Bank (AfDB), the European Investment Bank (EIB) and the Kenya Commercial Bank (KCB).
Aligning financial flows in Africa should help seize the enormous, yet still largely untapped, renewable energy potential of the continent, and more generally support pathways for low-carbon and resource-efficient growth. No continent will be struck as severely by the impacts of climate change as Africa, given its geographical position, the vulnerability of African populations and the reliance of economies on natural resources. For this reason, aligning financial flows with adaptation and resilience imperatives is of paramount importance for Africa. IDFC, as the largest provider of climate finance globally, could play a pivotal role in this aim for this promising and growing continent.
Press Release : IDFC and TDB Convene DFIs at the One Planet Summit in Nairobi
IDFC Sherpa Meeting in Paris, FranceInternational Event
IDFC Sherpa meeting at AFD: the first edition!
On February 21st and 22nd, the IDFC sherpa meeting was held for the first time at Agence Française de Développement (AFD), president of the Club and especially for the first time in Paris since the creation of the Club in 2011! A record participation as 20 of the 24 member institutions were present from German KfW to China Development Bank through Colombian Bancoldex or Japanese JICA. Another first, the participation, as observers in anticipation of becoming officially members of the club at the next annual meetings in October 2019, the Indonesian infrastructure development support bank PT SMI and the Argentine National Development Bank , BICE.
During these two days, marked by the intervention of the AFD’s CEO and President of IDFC, Rémy Rioux, and under the sign of the reinforcement of the cooperation and the collaboration between the members of the club
IDFC is at COP 24 in Katowice, Poland!International Event
Since their 1st edition in 2015 at COP21 in Paris, and then in Casablanca in 2016, the IDFC Climate Finance Fora have been investigating the multiple processes, tools, approaches, methodologies and institutional set-ups that make it possible to concretely design, finance and implement climate-smart action in developing countries at the required scale.
This year’s IDFC Climate Finance Forum will take the form of a series of events co-organized by IDFC members at COP 24 in Katowice, Poland. Have a look at the programme.
IDFC seeks to contribute to the international green finance agenda. Have a look at this year key milestones: