The Finance in Common Summit, taking place during the Paris Peace Forum in November 2020, will address our common need to build new forms of prosperity that take care of the living (people and planet) in a resilient manner.

WHY FINANCE IN COMMON?

ln the context of the Covid-19 pandemic and subsequent global socio-economic crisis, the Finance in Common Summit will stress the crucial role of Public Development Banks in reconciling short-term counter-cyclical responses to the crisis with sustainable recovery measures that will have a long-term impact on the planet and societies. Gathering Public Development Banks from around the world, the Finance in Common Summit is an opportunity to:

  • build a new coalition of actors and launch a collective dynamic aimed at fostering the emergence of a global response to global challenges; and
  • demonstrate the potential of Public Development Banks in linking short-term needs with long-term transformations and in redirecting financial flows towards sustainable development objectives.

 

The Finance in Common Summit is taking place on 12 November 2020 during the Paris Peace Forum, an annual event focused on improving global governance. The Summit is intended to contribute to the COP26 agenda and the G20 Summit. To ensure broad and effective engagement with all stakeholders, and in light of the Covid-19 crisis and its consequences, the Summit will deploy an innovative mix of in-person and enhanced digital session formats.

By rallying and challenging a new and significant global community with enhanced capacity of action, and by promoting sustained collective action, the Finance in Common Summit seeks to contribute substantially to the success of the UNSG’s “Decade of Action”.

  • What type of collective action is required to avoid a long recession and make the post-Covid-19 recovery a sustainable one?
  • How can Public Development Banks help economies cope with short-term employment support and long-term necessary transformation of industries?
  • How can they implement the transition towards a low-carbon and resilient economy?

These questions will be at the core of the Finance in Common Summit.

About

450 PDBs

in the world

in 2019

$11.2 TRILLION

in assets in 2018

$2,300 BILLION

average annual

disbursements

WHY FINANCE IN COMMON?

In the context of the Covid-19 pandemic and subsequent global socio-economic crisis, the Finance in Common Summit will highlight the crucial role of Public Development Banks in reconciling short-term counter-cyclical responses to the crisis with sustainable recovery measures that will have a long-term impact on the planet and societies. Gathering Public Development Banks from around the world, the Finance in Common Summit is an opportunity to: 

  • build a new coalition of actors and launch a collective dynamic aimed at fostering the emergence of a global response to global challenges; and
  • demonstrate the potential of Public Development Banks in linking short-term needs with long-term transformations and in redirecting financial flows towards sustainable development objectives.

About

450 PDBs

in the world

in 2019

$11.2 TRILLION

in assets in 2018

$2,300 BILLION

average annual

disbursements

The Finance in Common Summit is taking place on 12 November 2020 during the Paris Peace Forum, an annual event focused on improving global governance. The Summit is intended to contribute to the COP26 agenda and the G20 Summit. To ensure broad and effective engagement with all stakeholders, and in light of the Covid-19 crisis and its consequences, the Summit will deploy an innovative mix of in-person and enhanced digital session formats.

By rallying and challenging a new and significant global community with enhanced capacity of action, and by promoting sustained collective action, the Finance in Common Summit seeks to contribute substantially to the success of the UNSG’s “Decade of Action”.

  • What type of collective action is required to avoid a long recession and make the post-Covid-19 recovery a sustainable one?
  • How can Public Development Banks help economies cope with short-term employment support and long-term necessary transformation of industries?
  • How can they implement the transition towards a low-carbon and resilient economy?

These questions will be at the core of the Finance in Common Summit.

WHAT ARE PUBLIC DEVELOPMENT BANKS?

There are about 450 Public Development Banks (also called Development Finance Institutions) around the world, operating at sub-national, national, regional, international and multilateral levels. The volume of activity of these institutions amounts to about USD 2 trillion annually – a staggering 10 percent of the total amount invested in the world every year by all public and private sources combined.

With their public mandates and counter-cyclical roles, Public Development Banks are more relevant than ever to contribute to the reconciliation of economic recovery and sustainable development. These institutions represent a “visible hand” that can help mobilize and direct the finance we need for the future we want.

Public Development Banks (PDBs) are a vast family of institutions at the intersection between finance and public policy. They share three characteristics:

  • They enjoy independent legal status and financial autonomy.
  • They are controlled or supported by central or local governments.
  • They execute a public mandate, addressing market inconsistences – notably for the financing of small and medium entreprises, essential infrastructures, local financial markets, housing, small agriculture, and regional and international trade – to the benefit of enterpreneurs, rural households, and the most vulnerable, including women and young people.

But they are not engaged in commercial banking, individual bank accounts or consumer credit.

RESEARCH AT THE FINANCE in COMMON SUMMIT

On 10 November a research conference will take place in Paris, during which a consortium of prominent academic institutions will present papers and share insights about how Public Development Banks can produce better finance over the long term. They will liaise closely with senior officials from PDBs, including members of the International Development Finance Club (IDFC) and the World Federation of Development Finance Institutions (WFDFI), as well as with other stakeholders, notably from the private sector.

ORGANIzERS AND PARTNERS

Under the patronage of UN Secretary-General António Guterres and President Emmanuel Macron (tbc), the Finance in Common Summit is:

The Finance in Common Summit will gather the whole development bank community along with other key stakeholders, such as Heads of State, governments, supervisors, and representatives from the private sector, civil society, think tanks and academia.