22 October 2019
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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 :
21 October 2019
IDFC & the World Federation of Development Financing Institutions jointly call for a Summit of Development Banks
GeneralThe 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.
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
19 July 2019
IDFC at the UN High-level Political Forum (HLPF) on Sustainable Development, NYC
ClimateFor 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.
26 June 2019
IDFC & the GCF sign a Statement of Partnership to join forces in fighting Climate Change
Climate
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.
28 May 2019
Conference on National Development Banks: Supporting the SDGs & Structural Transformation, Beijing, China
SDGs AchievementOn 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)
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 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:
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