CAF Participates in the 12th Meeting of the IDFC Steering Group
June 28, 2023
The International Development Finance Club (IDFC) is a collaborative platform that brings together 26 development institutions. Its objective is to promote sustainable development and the alignment of financial flows with global development agendas, including the 2030 Agenda and the Paris Agreement.
The 12th Steering Group Meeting of the International Development Finance Club (IDFC), also known as the Club of Banks, took place this week in Berlin, Germany.
The Club de Bancos, created in 2011, is a platform that brings together 26 global development banks in order to exchange best practices and knowledge, as well as mobilize resources to advance the implementation of global agendas, particularly the Sustainable Development Goals ( SDGs), the Paris Agreement and the Kunming-Montreal Agreement.
As a founding member of the Club, CAF participated in this meeting, represented by its Vice President of Finance, Gabriel Felpeto, and its Director of Institutional Financial Resources, Gloria Gamero. The Club is currently chaired by the French Development Agency (AFD) and its president, Remy Rioux.
Within the framework of this meeting, hosted by the Kreditanstalt für Wiederaufbau (KfW), high-level discussions were held with representatives of 18 financial institutions on global challenges and the role of development banks. Specifically, topics such as the Common Principles of Adaptation and Mitigation for climate financing, the development of carbon markets, the implementation of the Global Biodiversity Framework, alignment with the SDGs and the Paris Agreement, gender equality, and innovation in financial instruments to maximize financing and meet the multiple demands and challenges of our member countries.
Additionally, during the meeting, CAF representatives had the opportunity to share the institution's strategic vision for 2026 and highlighted the Club's valuable contributions to advance missionary agendas, specifically: the protection of biodiversity and terrestrial and marine ecosystems; social well-being with equality, inclusion and diversity; and sustainable global finance.
They also highlighted the achievements made by CAF to strengthen its role as a partner for the development of Latin America and the Caribbean, with emphasis on expanding the shareholder base and improving its credit rating, consolidating in the AA category.
CAF's participation in this meeting reaffirms its commitment to promote international cooperation and sustainable development as fundamental pillars of reactivation and inclusive economic growth. As the leading development bank in the region, CAF continues to work hand in hand with strategic partners to maximize its development impact. To learn more about the IDFC, visit this link.