Agence Française de Développement to convene global summit of development banks

Photo: IFAD/Edward Echwalu

Recognizing the significant annual investments of public development banks and their counter-cyclical role in the face of shocks like the COVID-19 pandemic or extreme climate events, France-through the Agence Française de Développement (AFD), is hosting the Finance in Common Summit on 12 November 2020. Convened at the initiative of the World Federation of Development Finance Institutions and the International Development Finance Club, the event will convene Heads of State and government, and leaders of Public Development Banks (PDBs) and other institutions. The ambition is to strengthen the contribution of the PDBs to realizing the 2030 Agenda and the Paris Agreement by promoting coordination and closer alignment of their mandates to sustainable development objectives.

In the framework of the Summit, AFD is working with the International Fund for Agricultural Development (IFAD) and the SAFIN Secretariat to convene an agriculture cluster of PDBs in the lead up to the Summit, as well as to organize a high-level event on financing sustainable food systems at the Summit. The outcomes of the agricultural cluster are likely to include a joint statement and the launch of a global forum of PDBs committed to financing sustainable food and agriculture.

Learn more about the Finance in Common Summit here.