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 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 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

Since their  1^st  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:

IDFC Green Mapping 2018 – Summary version

IDFC Green Mapping 2018 – Full report

IDFC Position Paper : Aligning with the Paris Agreement

MDB IDFC Lessons Learned on Climate Change Adaptation Finance Tracking – Summary

MDB IDFC Lessons Learned on Climate Change Adaptation Finance Tracking – Full Report