Economists heads of development banks gathered in Minas Gerais to analyze new approaches in the face of economic challenges from Latin America and the Caribbean
- In an event organized by ALIDE and the BDMG with support from the IDB, the heads of the economic studies departments from the banks assessed their performance and impact on the achievement of the 2030 Agenda and the SDGs.
September 22, 2019.- The Minas Gerais Development Bank (BDMG) and the Latin American Association of Development Financing Institutions (ALIDE) organized the “1st Meeting of Economists Heads of Development Banks of Latin America and the Caribbean: Critical aspects of development financing within the framework of the 2030 Agenda”, on September 19 and 20, sponsored by the Inter-American Development Bank (IDB).
The event sought to strengthen relations among national and international development banks for exchanging experiences and technical cooperation. Discussions were held with experts on priority issues regarding the activities of this sector, highlighting those with an impact on the Sustainable Development Goals (SDGs) and the 2030 Agenda.
“There is a worldwide debate on the role of development banks that involves issues such as the digital transformation and the new technologies applicable to the sector, the diversification of funds and the new sustainability parameters. All this amidst a complex and challenging economic context. Organizing such an important event shows that the guidelines that drive the BDMG’s operations are in line with what the international organizations provide for”, explained Sergio Gusmão, president of BDMG and member of the Board of Directors of ALIDE.
For his part, Edgardo Alvarez, secretary general of the association, stated that “there are common traits in the challenges of Latin American economies, aside from international agreements that demand further participation from Development Banking. Hence, it becomes necessary to envisage the sector’s actions from a common vision in order to generate initiatives that are more efficient and better focused. Development banks, as actors for change linked to the governments, are useful instruments for the adaptation of the economies to these new challenges”.
Among those in attendance, there were important personalities from the sector, such as Enrique García, president of Council on Institutional Relations of the World Economic Forum for Latin America and the Caribbean; Otaviano Canuto, former director of the World Bank; Martin Schröder, director for Brazil of the German bank KfW; Juan Ketterer, director of Markets and Finance at the IDB, among others.
On the first day of the gathering, there was a closed roundtable meeting of the main economists of the institutions that make up ALIDE. The agenda included the role of development financing institutions within international agreements. They also analyzed current trends affecting the economic process in the region and other aspects, such as climate change and the digital transformation.
On the second day, which was open to the public through the registry, a technical seminar was held in order to generate exchanges of experiences on the fundamentals of development financing. The event featured panels of high level experts who addressed the development financing strategies; the digital transformation and the impact of new technologies; as well as the challenges in measuring the contribution of banks to the UN 2030 Agenda.
ALIDE is the community of financial institutions that generates solutions in Latin America and the Caribbean. Its main objective is to contribute to the economic and social development of the region, through good practices in the financing of development, the promotion of its members, through cohesion activities and strengthening the participation of financial institutions in the process regional economic.
With 57 years of experience, BDMG is a financial institution that forms part of the economic development system of the State of Minas Gerais. The bank supports public and private companies that contribute to the strengthening of the mining economy, focusing on sustainability and increasing the competitiveness of businesses of various sizes. Always stimulating innovation and the increase of productivity and the creation of quality jobs, with an impact on the reduction of social inequalities, BDMG fosters activities in various sectors that bring direct benefits to society.
The IDB is the main source of financing for the development of Latin America and the Caribbean. It offers loans, subsidies and technical cooperation and carries out numerous research projects. Its commitment is to achieve measurable results in health, education and infrastructure through financial and technical support for the countries that work to reduce poverty and inequality. Current intervention areas involve three development challenges: social inclusion and equity, productivity, innovation and economic integration.