• The UN fund’s association with ALIDE will enhance collaboration in, and the financing of small agriculture and rural wellbeing in the region

January 2, 2024- The Secretary General of the Latin American Association of Development Financing Institutions (ALIDE)  and of the World Federation of Development Financing Institutions (WFDFI), Edgardo Alvarez, participated in the activities that were carried out during the 28th Conference of the Parties to the United Nations Framework Convention on Climate Change (COP28) held in Dubai from November 30 to December 12 of 2023.

The Secretary General attended the presentation of the work plan of the Green Coalition of public development banks, an initiative that seeks to raise between  US$10,000 and US$20,000 million by creating a sustainable development platform and to support sustainable development finance in the Amazon region.

He was present, as well, at the D20-LTIC Summit, where the crucial role played by international financial institutions in supporting the global struggle against climate change was addressed.   New member DBSA was welcomed and the election of the new co-President, BNDES President, Aloizio Mercadante, was hailed.

Presentations and bilateral meetings

The COP28 activities also included the participation of ALIDE’s representative in the workshop “Paris Alignment for PDBs: How a PDB can best respond to its expectations?”, organized by the French Development Agency and held in the International Development Finance Club (IDFC) pavilion.

During his participation as a speaker, Edgardo Alvarez referred to the importance of the finance as the triggering element for bringing about changes and solutions that are urgently needed for alignment with the Paris Agreement and the Agenda 2030, and emphasized that climate finance has an important role to play in hastening the green transition.

Continuing with his agenda, Alvarez held two bilateral meetings with members of the Banco da Amazônia and of AgriCord, and attended the presentation of the new investment fund: «Resilience Investment Vehicle», furthered by the CARICOM Development Fund, whose purpose it will be to finance enterprises and projects that will promote climate resilience in the Caribbean region.

More about the Green Coalition

The Green Coalition  is an alliance of 20 development banks in the Amazon, whose main purpose is to promote the sustainable, resilient and inclusive development of one of the world’s most important biomasses.

Created at the Amazon Summit held in Belém do Pará on August 7, 2023, this coalition dedicates its efforts to advancing economic growth that is social, environmentally responsible and sustainable.

Its goal is to harmonize human activity with environmental management, thereby ensuring the welfare of the region and making a positive contribution to the world’s ecological balance.

ALIDE is a part of this alliance, together with its members: the Inter-American Development Bank (IDB), CAF-Development Bank of Latin America,  Banco Nacional de Desenvolvimento Econômico e Social (BNDES), Banco do Nordeste do Brasil S.A. (BNB), Banco de Comercio Exterior de Colombia (Bancoldex), Financiera del Desarrollo (FINDETER), Corporación Financiera Nacional B.P. (CFN), Corporación Nacional de Finanzas Populares y Solidarias (CONAFIPS), Fondo para el Financiamiento del Sector Agropecuario (FINAGRO) and Corporación Financiera de Desarrollo S.A. (COFIDE).