• The event, which brought together high-level executives of financial institutions in Lima, was held in the framework of the Economic Leaders Week of the Asia-Pacific Economic Cooperation Forum (APEC).

November 14, 2024- Today marks the opening of the Asia-Pacific and Latin America and the Caribbean (LAC) Banking Meeting on Financial Cooperation for Sustainable Development, an event that congregates high-level executives of development financing institutions of the two regions for the purpose of strengthening international cooperation and promoting the support of sustainable development project finance.

The meeting was organized by the Latin American Association of Development Financing Institutions (ALIDE) and the Association of Development Financing Institutions in Asia and the Pacific (ADFIAP), with the collaboration of important allies like the Inter-American Development Bank (IDB) and CAF-Development Bank of Latin America and the Caribbean.

The event is being held at ALIDE headquarters in Lima, within the framework of the Economic Leaders Week of the Asia-Pacific Economic Cooperation Forum currently taking place in Peru from November 10 to 16.

During the opening ceremony, both prominent national and regional financial and development leaders stressed the need to strengthen the links between Asia-Pacific and Latin America, in order to be able to cope more effectively with global challenges like climate change, financial inclusion and the digitalization of financial services.

ALIDE Secretary General, Edgardo Alvarez, emphasized that «the establishment of alliances, with the incorporation of diverse actors in policy, planning and project formulation activities, is essential for mobilizing financial resources and knowledge.»

He went on to add that the joint action of, and collaboration between, our regions with the APEC Forum is crucial for «facilitating economic growth and technical cooperation and spurring trade and investment.»

ADFIAP Chairman, Kao Thach, pointed out that «this two-day meeting will serve as an invaluable platform for promoting international cooperation between the development financing institutions» of the two regions in order to build a more sustainable future.

He also underscored the fact that South-South cooperation is essential for confronting the common challenges that affect both regions and expressed his hope that this meeting would “inspire new ideas, spur transformative initiatives and promote collaboration for building an inclusive, resilient and sustainable future.”

The Executive Vice-President of CAF, Gianpiero Leoncini, stressed that «the power engendered by alliances and collaborative efforts is of basic importance for multiplying the impact of our actions in Latin America and the Caribbean, in uninterrupted cooperation with our Asian partners.»

The Asia-Pacific and Latin American Banking Meeting will continue to take place up until November 14th, with  discussion panels, presentations and bilateral meetings to explore opportunities for cooperation and the financing of sustainable development projects on both shores of the Pacific.