International Development Finance Club to respond to global challenges
CAF President & CEO Enrique García said "The new network will shape the international debate on financial development through exchange of knowledge and experience, and presentation of our recommendations as development banks on achieving sustainable and inclusive growth around the world."
García said the institution he heads has deepened relations between Latin America and other hemispheres "continuously confirming CAF’s linking and catalytic role between the region and the rest of the world."
Ulrich Schroeder, president of KfW Bankengruppe, said "we are proud to have been capable of bring together a significant number of prestigious institutions in this new network. Individually they have distinguished themselves through innovation and competence in the area of development finance in emerging markets. We would like to combine these strengths and respond together to challenges such as climate change."
The Club is built on the basis of the excellent relations that have long existed between 19 national, subregional and regional development banks in Africa, Asia, Europe and Latin America. The network, open to new members, offers opportunities for exchange of experiences and identifying new areas of mutual cooperation.
Key issues which the Club has identified to address together in the 2011-2014 period are the effects of climate change, public infrastructure deficiencies and obstacles to social development.
One of the Club’s priority tasks is to present its joint view of the financial mechanisms needed to support initiatives on climate change and promote development. In this respect, members of the Club are planning to define joint actions ahead of the UN Conference on Sustainable Development Rio +20, to be held in June 2012 in Rio de Janeiro, Brazil.
The Club unanimously elected Ulrich Schröder, CEO of KfW Bankengruppe, as its first president with vice presidents Enrique García, CAF president; Paul Baloyi, DBSA president; Luciano Coutinho, BNDES president; and Hiroto Arakawa, JICA president.
The following banks are founding members of the Club:
- French Development Agency
- Banco Estado, Chile
- Bancoldex, Colombia
- BNDES, Brazil
- Black Sea Trade and Development Bank
- Caisse de Dépôt et de Gestion, Morocco
- BCIE/CABEI, Central America
- China Development Bank
- CAF
- HBOR, Croatia
- Development Bank of Southern Africa
- Eximbank, Indonesia
- TSKB, Turkey
- JICA, Japan
- KFW, Germany
- Korea Finance Corporation
- Nacional Financiera Development Bank, Mexico
- Small Industries Development Bank of India
- Vnesheconombank, Russia
CAF's more recent content
CAF, JICA and Sicredi join forces to support women and rural producer
The amount represents the largest international facility ever undertaken by Sicredi, with the involvement of four internationally renowned entities: Banco Finantia, BNP Paribas, Eco.business Fund, and Sumitomo Mitsui Banking Corporation (SMBC). The funds raised can also be used in regions with a Human Development Index below the national average.
CAF-FAO: Digitization project for agribusiness with repository launch
The Food and Agriculture Organization of the United Nations (FAO), CAF -development bank of Latin America and the Caribbean-, the Ministry of Agriculture, Land and Fisheries and the Tobago House of Assembly celebrated the successful completion of the “Digitization and Innovation for the Competitiveness and Sustainability of the Agribusiness Sector in Trinidad and Tobago” project. The closing ceremony, that took place on the 29th of July, marked a significant milestone in the country's efforts to modernize and enhance the agricultural sector.