To foster a culture of cooperation and knowledge exchange unique to APEC, the Latin American Association of Development Financing Institutions (ALIDE) and the Association of Development Financing Institutions in Asia and the Pacific (ADFIAP) are planning a side event on development banking during the 2024 Asia-Pacific Economic Cooperation (APEC) Forum. This event, scheduled for November 10 to 16, 2024, in Lima, Peru, will coincide with APEC’s Economic Leaders Week, offering a key platform for global economic leaders to engage.

As the host of APEC 2024, Peru will welcome world leaders, top executives, and representatives from 21 member economies. ALIDE views this as an opportunity to enhance collaboration between development banks in Latin America and the Asia-Pacific.

The side event, co-organized by ALIDE, ADFIAP, and the Inter-American Development Bank (IDB), will focus on sustainable development financing. Discussions will center on innovative solutions from public banks in both regions to promote inclusive and sustainable growth.

Aligned with APEC 2024’s theme, “Empower, Include, Grow,” the event will highlight how development banks can support interconnected growth, innovation, and resilience. The IDB’s involvement is significant, given that nine APEC economies, including Chile, Mexico, and Peru, are members, further reinforcing the event’s relevance for Latin America and the Asia-Pacific.

ADFIAP, as the leading association for development banks in Asia-Pacific, sees this event as a vital opportunity to connect development banks across both regions and inspire South-South cooperation on sustainable financing challenges. This initiative underscores the pivotal role of development banks in driving global economic transformation and the importance of cross-regional collaboration.