On October 19, 2025, the International Development Finance Club (IDFC) held its Annual Meeting in Washington, D.C., on the sidelines of the World Bank and IMF Annual Meetings. The event gathered the heads and senior representatives of the member institutions to review the Club’s progress, discuss key strategic priorities, and renew its leadership.

Re-election of Serge Ekué as IDFC Chairman

A key highlight of this year’s meeting was the re-election of Mr. Serge Ekué, President of the West African Development Bank (BOAD), as Chair of IDFC for a second two-year term. His renewed mandate reflects members’ confidence in his leadership and vision for a more coordinated, impactful, and inclusive IDFC.

Before the election, Mr. Ekué outlined his vision for the period ahead, noting that the coming years will be decisive for both IDFC and the wider development community. In a context marked by climate emergencies, economic uncertainty, and the urgent need for a more inclusive model of growth, he called for IDFC to strengthen its dual role as a strategic voice and an operational force for transformation.

He highlighted key priorities for his new mandate: advancing reform of the international financial architecture, accelerating climate and biodiversity finance, and deepening South–South cooperation. He also emphasized the evolution of the IDFC Facility from a platform for dialogue and knowledge sharing toward one focused on operational acceleration and tangible results. At the heart of his remarks was a call for just and inclusive transitions, grounded in transparency, accountability, and innovation.

Following his re-election, Mr. Ekué thanked members for their renewed trust, describing this second mandate as both an honor and a collective responsibility. He reaffirmed his determination to deepen collaboration among members and to ensure that IDFC continues to act as a leading voice for climate action, inclusive growth, and sustainable development.

IDFC members extended their congratulations to President Serge Ekué on his re-election and reaffirmed their collective commitment to supporting the Club’s mission in favor of a more resilient, greener, and inclusive world. The meeting also confirmed the renewal of 13 members of the Steering Group for the next term.

Strengthening Collective Action and Innovation

The IDFC Facility was one of the key topics of the Annual Meeting. Members discussed the future development, priorities and replenishment of the Facility, a key instrument for advancing the Club’s joint initiatives and enhancing collaboration among members.

Discussions also centered on IDFC’s collective climate agenda, including:

• Preparations for COP30 and the Club’s State of Ambition, which will reaffirm the commitment of Public Development Banks to align financial flows with the Paris Agreement
• The IDFC Green Finance Mapping, including updates on biodiversity finance,
• Progress on the Global Guarantee Platform,
• A systemic approach to unlocking transformational finance for sustainable investment.

One Memorandum of Understanding was signed between KfW and DBSA, marking a new milestone in cooperation among members.

Members also reviewed the 2025 Work Program, including updates from working groups on Gender Equality, SDG Alignment, and Cooperation for Development (C4D). These collaborative platforms continue to drive joint learning, data harmonization, and operational coordination among IDFC institutions.

High-Level Workshop on SDRs

Ahead of the Annual Meeting, on October 17, 2025, IDFC co-organized with its members a high-level workshop on “Operationalizing the use of SDRs to provide liquidity lines to Multilateral Development Banks (MDBs).”

Opened by Mr. Ekué, the session gathered experts from academia, credit rating agencies, financial institutions and research institutions to discuss how Special Drawing Rights (SDRs) could be rechanneled to strengthen MDBs’ financial capacity and enhance global development impact. The discussion built on the paper “A Liquidity Line for MDBs: SDR Rechanneling Revisited” by Professor Andrew Powell (Williams College and the Center for Global Development).

This initiative reflects IDFC’s ongoing efforts to contribute to a more inclusive and resilient international financial architecture.

Looking Ahead

Washington proved to be a strategic moment for IDFC, marked by renewed leadership, new partnerships, and ambitious discussions on reforming the global financial system. The meetings reaffirmed members’ commitment and collective ambition to advance sustainable development and climate finance at scale.

With the COP30 now less than a month away, IDFC and its members are preparing to bring this momentum forward, demonstrating once again the vital role of Public Development Banks in building a greener, fairer, and more resilient world.