ADFIAP, ADB hold joint forum on climate finance

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ADB Group picsUnder a technical assistance from the Asian Development Bank (ADB), the Bank and ADFIAP jointly organized on January 19-20, 2015 at the ADB Headquarters in Manila, a workshop on climate finance and development finance institutions (DFIs) in Asia and the Pacific themed’ “Catalyzing Investment in Climate-Friendly Infrastructure”, with about 80 participants from both institutions, experts and funding organizations attending.

The objective of the technical assistance, of which the event was a part of, is to enhance the understanding and capacity of national DFIs in the Asia-Pacific region to design investment strategies for low-carbon, climate resilient infrastructure and technology projects. These projects are envisioned to mobilize climate finance through new and emerging international financing mechanisms such as the new Green Climate Fund which was also represented in the forum. ADB’s Strategy 2020 and development plans of ADB Developing Member Countries (DMCs) identify climate change mitigation and adaptation as a priority issue.

Because of its continuing work and advocacy on green finance, its network of over 100 DFIs in 40 countries in the Asia-Pacific region, and its mandate to advance sustainable development, ADFIAP is well placed to serve as a catalyst for information sharing and spreading of best practice with regard to climate finance through its member-DFIs. By empowering DFIs to be effective intermediaries of climate finance, DMC efforts to respond to climate change and advance national development priorities would be boosted through the development of innovative financing approaches for much needed infrastructure and technology that takes into account climate risks and related investment needs while catalyzing the private sector.

The forum was also an occasion to release the survey results on climate finance activities of ADFIAP members which was undertaken by the International Financial Consulting Ltd. under the leadership of its President and CEO, Diana Smallridge as well as present case studies on green finance of ADFIAP members namely, the Development Bank of the Philippines (DBP), DFCC Bank of Sri Lanka, Export-Import Bank of India and the Small Industries Development Bank of India (SIDBI). The event was inaugurated by Dr. Bindu M. Lohani, ADB Vice President for Knowledge Management and Sustainable Development and Mr. Octavio B. Peralta, ADFIAP Secretary General.

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