• The meeting, held in the framework of the Economic Leaders Week of the Asia-Pacific Economic Cooperation Forum (APEC), promoted free-flowing dialogue, an exchange of knowledge and collaboration to spur development initiatives in both regions

November 14, 2024- The Latin America and the Caribbean (LAC) – Asia-Pacific Banking Meeting on Financial Cooperation for Sustainable Development came to a successful close, highlighting the importance of cooperative efforts between the financial institutions for creating opportunities for development, especially in the most remote towns and villages, through financing.

During two days of intensive working sessions, the participants discussed crucial issues like financial inclusion, the digitalization of financial services, and green and resilient infrastructure finance, and opportunities for cooperation between the two regions, in an environment marked by global challenges.

Prior to the closing ceremony, ALIDE’s Head of Economic Studies, Romy Calderón, made a presentation of the conclusions of the meeting.  During his statement, he underscored «the importance of collaboration, within the countries, between the various financial institutions and government bodies, as well as with the international financial organizations.»

Calderón went on to add that sharing experiences and obtaining financial assistance are essential for moving ahead with development, but emphasized that having government regulations in place to facilitate the work of the development banks is also crucial

«What is lacking is the task of boosting the efforts of development banks and sharing more fully in their workload through a network for cooperation,» Calderón declared, stressing the value of platforms like the LAC – Asia-Pacific Banking Meeting for sharing practices, experiences and knowledge that would avoid the need to start initiatives from zero.

The future of inter-regional cooperation

The event was a milestone in the reinforcement of collaboration between the Asia-Pacific and Latin American and Caribbean regions, firmly establishing the role of development financing institutions as key actors in the promotion of sustainability and economic progress.

At the closing ceremony, Edgardo Alvarez, ALIDE Secretary General, pointed out that a commitment is still pending with the most vulnerable population sectors and suggested that this meeting constitute only the first step towards a joint effort by the two regions.  He also stated his expectation that the talks would be continued at FICS 2025 and in the forthcoming ALIDE General Assembly.

Enrique Florencio, Secretary General ADFIAP, for his part, stressed that: «By sharing our knowledge, taking advantage of technology and supporting each other, we can create a sound ecosystem that would guarantee access to financing by everyone.»

On the LAC – Asia-Pacific Banking Meeting

The Asia-Pacific  – Latin America and the Caribbean (LAC) Banking Meeting on Financial Cooperation for Sustainable Development served as a unique platform that brought together high-ranking  executives of development financing institutions of the two regions for the purpose of reinforcing international collaboration and promoting innovative sustainable finance strategies.

The event 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.