The Agence Française de Développement (AFD) and the Association of Development Financing Institutions in Asia and the Pacific (ADFIAP) signed a partnership agreement on December 10 to promote climate finance and Sustainable Development Goals among national development banks in Asia and the Pacific.
As a demographic giant, Asia has become one of the engines of global economic growth in a few decades. The development of the region and the resulting environmental and social challenges are huge. Their consequences, particularly ecological, must be addressed through a regional approach.
Facing these challenges, development banks have a central role to play as they provide financing to strategic sectors and could play a counter-cyclical role in times of crisis. In order to support them, AFD and ADFIAP have decided to join forces with a partnership aiming to provide capacity building to ADFIAP members through training and knowledge sharing, to better implement green finance practices in their activities.
This emerging partnership will also position AFD as an ADFIAP member, promoting exchanges with other members and potentially leading to new financing opportunities.
“We are delighted to sign this partnership with ADFIAP, a major development player in the region. Development of green finance is a priority for us in order to support the Asia Pacific in its transitions” explained Yazid Bensaïd, Regional Director for Southeast Asia.
“We are grateful to sign this partnership with AFD, a financial institution whose governance is based on a set of structures that ensure the organization’s functioning is transparent and well-managed, which is one of the pillars we are advocating”, said Enrique Florencio, ADFIAP Secretary-General.
Agence Française de Développement (AFD) implements France’s policy on international development and solidarity. Through its financing of NGOs and the public sector, as well as its research and publications, AFD supports and accelerates transitions towards a fairer, more resilient world. It also provides training in sustainable development (at AFD Campus) and other awareness-raising activities in France.
AFD and its partners are building shared solutions with and for the people of the Global South. Their teams are at work on more than 4,000 projects in the field, in the French Overseas Departments and Territories, in 115 countries, and in regions in crisis. AFD strive to protect global public goods – promoting a stable climate, biodiversity, and peace, as well as gender equality, education, and healthcare. In this way, they contribute to the commitment of France and the French people to achieve the Sustainable Development Goals (SDGs). Towards a world in common.
ADFIAP https://www.adfiap.org is the largest and most prestigious aggrupation of development banks and other financial institutions engaged in the financing of sustainable development in the Asia-Pacific region. Established on October 1, 1976, with 31 original charter signatories under the auspices of the Asian Development Bank (ADB) which remains a Special Member of the Association. It counts among its 90 member institutions in 38 countries and territories.
ADFIAP is a founding member of the World Federation of Development Financing Institutions (WFDFI) comprising of similar associations in Africa, Latin America, and the Middle East, and a nongovernmental organization in consultative status with the United Nations Economic and Social Council. The permanent Secretariat of ADFIAP is based in Manila, Philippines.
For inquiries, email us at inquiries@adfiap,.org with a copy to [email protected].