CAF Participates in the 12th Meeting of the IDFC
June 28, 2023
The Steering Group of the International Development Finance Club (IDFC) is a collaboration platform that brings together 26 development institutions. Its objective is to promote sustainable development and the alignment of financial flows with the global development agendas, including the 2030 Agenda and the Paris Agreement
This week, the 12th Meeting of the Steering Group of the International Development Finance Club (IDFC) took place in Berlin, Germany.
The IDFC, created in 2011, is a platform that brings together 26 global development banks 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 Funding, Gloria Gamero. Currently, the Club is chaired by the French Development Agency (AFD) and its president, Remy Rioux.
During the event, hosted by the Kreditanstalt für Wiederaufbau (KfW), high-level discussions were held with representatives from 18 financial institutions on global challenges and the role of development banks. The topics addressed included the Common Principles of Adaptation and Mitigation for climate finance, the development of carbon markets, the implementation of the Global Biodiversity Framework, the alignment with the SDGs and the Paris Agreement, gender equality, and innovation in financial instruments to maximize financing for development.
CAF participants had the opportunity to share the institution's strategic vision for 2026 and highlighted the valuable contributions of the Club to advance its priorities including the protection of biodiversity and terrestrial and marine ecosystems, social well-being with equality, inclusion, and diversity, and sustainable global finance.
Additionally, the achievements obtained by CAF to strengthen its role as a partner for the development of Latin America and the Caribbean were also highlighted stressing on the expanded shareholder base and the improvement of its credit rating, consolidating the institution in the AA category.
CAF's participation in this meeting reaffirms its commitment to promote international cooperation and sustainable development as fundamental pillars for the reactivation and inclusive economic growth. As a leading development bank in the region, CAF continues to work closely with strategic partners to maximize its impact on development.
To know more about the IDFC, visit this link.