• • This forum marks the first in-person meeting of the Alliance to be held since its launch on the initiative of the  Finance in Common Summit.

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  August 11, 2022- The Latin American Association of Financial Institutions for Development (ALIDE) participated in person in the 2022 Annual Forum of the Alliance of Subnational Development Banks in Latin America and the Caribbean  entitled “Financing a just and sustainable urban transition in the role of Subnational Development Banks in LAC.”

  ALIDE Secretary General, Edgardo Alvarez, took part in the high-level session “Urban climate transition finance: potentiating the role of the Public Development Banks.  Multi-level cooperation and the role of the Subnational Development Banks (SDBs) in the last mile,” in which he explained the strategic role played by and principal challenges confronting the Association and the development banking system in supporting city climate transition.

  “States are not equipped with sufficient resources to cover the gap in investment that is needed.  As a result, the challenge lies in being able to attract private investors, Alvarez asserted, in referring to the challenge involved in promoting climate finance, even for the world’s most-developed economies.

  During his participation in the session “Resource mobilization and access to international climate finance for the SDBs,” the Secretary General presented the GCF-ALIDE Readiness Project: “Reinforcing climate investment and finance in the banking sector in Latin America and the Caribbean,” in which Argentina, Cuba, the Dominican Republic, Guatemala, Paraguay and Uruguay are involved.

  Alvarez stressed that the Readiness Project seeks to increase climate finance and to bring about an exchange of experiences through the efforts of the participating countries’ financial institutions.  He also underscored the fact that both development banks and private institutions are included in the project.

  ALIDE’s representative concluded by pointing up the need to hasten sustainable and climate finance and also deemed it essential to have access to bankable projects that would help to reduce negative impacts on the environment.

First in-person meeting

This event, carried out in São Paulo (Brazil) on August 10 and 11, is the first in-person meeting of the Alliance of Subnational Development Banks in Latin America and the Caribbean to be held since its launching event on April 6, 2021.

The meeting was jointly organized by CAF, Desenvolve SP and the Alliance Secretariat, FMDV, with the support of EUROCLIMA+(European Union – AFD), FONPLATA and FIESP.

Over the two-day event, participants shared experiences in and recommendations for the finance of a sustainable urban transition in Latin America and the Caribbean.  The steering committee of the Alliance of Subnational Banks met and a report was presented on the activities that had taken place during its first year of operation, together with the work plan for 2023, among other matters of interest.

About the Alliance of SDBs in Latin America and the Caribbean

This is the first Alliance of Subnational Development Banks (SDBs) to be created in Latin America and the Caribbean and was launched on April 6, 2021 following the Finance in Common Summit held in November of 2020.  The founding members of the Alliance are Banco de Desenvolvimento de Minas Gerais (BDMG), The French Development Agency (AFD), the Global Fund for Cities Development (FMDV) and the Institute for Sustainable Development and International Relations (IDDRI).

About ALIDE

ALIDE is the community of financial institutions that generates banking solutions for the development of Latin America and the Caribbean. Founded in 1968, its main objective is to contribute to the economic and social development of the region, through the good practices in development financing that it promotes among its associates, about 90 institutions with a presence in more than 20 Latin American countries and other regions of the world.

Contact

Communications Unit of ALIDE
Phone: +511-203-5520 |: Ext: 227
comunicaciones@alide.org, comunicaciones2@alide.org
www.alide.org