September 4, 2023- The Latin American Association of Development Financing Institutions (ALIDE) presented its recent book: “The Latin American Development Banking System:  5 Years Later,” in an effort to transmit an understanding of and reflect upon recent years in its evolution.  This book explains in detail how the Development Financing Institutions (DFIs) contributed towards mitigating the economic effects of the COVID-19 crisis through  the allocation of approximately US$ 93,000 million, and emphasizes how DFIs invest an average of between 270 and 300,000 million a year.

These anti-COVID efforts took place through the establishment of emerging loan lines, by restructuring payments, supporting small and medium enterprises and subnational governments and expanding intermediary lending capacities.

“The Latin American Development Banking System:  5 Years Later” not only reflects the advances and challenges of the past five years, but also highlights the strategic lines of action that activities and sectors will need to support in the future, in order to achieve more equitable and sustainable economic and social development.

“Where others see risks, development banks see opportunities, confront challenges and open the way so that other intermediaries may later continue and finance projects that are, either because of a lack of information or of sufficient knowledge, left by the wayside, outside the financial market,” ALIDE Secretary General, Edgardo Alvarez, stressed forcefully.

More about the publication

The book presented during the Finance in Common  Summit 2023 in Cartagena, Colombia also broaches the need to invest 3% of the global Gross Domestic Product (GDP) in order to close the financial gap opened by the Sustainable Development Goals (SDGs).

It also draws attention to the importance of digitalization and emerging finance as innovative solutions and fundamental pieces for confronting the challenge of raising funds for the sustainable development and financial inclusion of individuals, enterprises, projects, sectors and territories that for different reasons are not being financed.

About ALIDE

ALIDE is the community of financial institutions that produce banking solutions for Latin American and Caribbean development. Founded in 1968, its main purpose is to contribute to the region’s economic and social development by promoting the use of good development finance practices among its members. It is comprised of more than 80 member institutions operating in over 20 countries of Latin America and other regions of the world.

Contact

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