Online peer-to-peer workshop on The role of Subnational Development Banks in financing an urban and territorial resilient post-covid recovery in Latin America and the Caribbean

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The COVID-19 crisis has strongly exacerbated the failure of subnational finance markets and the need to strengthen local investment. Subnational Development Banks - (public banks with the mandate to finance local governments and local stakeholders such as SMEs) have been recognized as key stakeholders to contribute to closing the subnational financial gap.

This peer-to-peer workshop will take the form of an exchange of inspiring practices and recommendations on reinforcing the role of SDBs in financing an urban and territorial resilient post-covid recovery in Latin America and the Caribbean (see concept note attached).

It will be opened by a Keynote speech of Professor Stephany Griffith Jones, Economist on the counter-cyclical role of Public Development Banks to finance the post covid recovery.

Participants will be invited to share challenges, inspiring experiences, lessons learned and opportunities for improvement around the 3 following topics:

• How to identify and prioritize investment for a resilient urban and territorial recovery?
• Which capital and resources to tap in to finance the post Covid recovery?
• What instruments and services to be set up by SDBs to finance the post Covid recovery?

Moderated by: Jean-François HABEAU Executive Director, Global Fund for Cities Development – FMDV

The outcomes of the discussions should form the basis of a position paper to be presented in the framework of the Finance in Common Summit 2 (FICS 2), to be taking place in Rome on October 19th-20th 2021.

Should you have any questions or require further information, please do not hesitate to contact the Alliance’s Secretariat team directly via email: jdevisc@fmdv.net, lsobrado@fmdv.net

About the Alliance of SDBs in Latin America and the Caribbean:

Launched in April 2021, the Alliance of SDBs in Latin American and the Caribbean is a Finance in Common initiative that aims to strengthen the capacity of SDBs to broaden and improve their services offered to local governments and local stakeholders to finance just local urban and territorial transitions around the 4 following objectives:

• Align their strategies, standards, initiatives, investments, and portfolios with the 2030 Agenda and its sustainable development goals (SDGs) and the Paris Agreement on Climate
• Promote sustainable investments through portfolios of urban and territorial development projects and boost the financial urban and municipal markets;
• Develop a strategic space for dialogues with peers, development institutions, governments, municipalities, and technical and financial partners in the region;
• Enhance the strategic role of SDBs and the contribution of the Alliance to the Global Agendas in international fora.

Its Steering Committee is composed of : Latin American Association of Development Financing Institutions – ALIDE, Brazilian Association of Development- ABDE, Banco de Desenvolvimento de Minas Gerais – BDMG, Banco Regional de Desenvolvimento do Extremo Sul – BRDE, Corporación Financiera de Desarrollo S.A. – COFIDE, Fideicomisos Instituidos en Relación con la Agricultura – FIRA, Fondo de Garantías de Buenos Aires – FOGABA, Agence Française de Développement – AFD, Latin American Development Bank (Corporación Andina de Fomento) – CAF, Central American Development Bank- CABEI, European Investment Bank – EIB, Inter-American Development Bank – IDB, Plata Basin Financial Development Fund – FONPLATA, World Bank, Economic Commission for Latin America and the Caribbean UN-ECLAC, United Nations Development Programme – UNDP, European Union (EC-INTPA), Ibero-american general secretariat – SEGIB, Institute for Sustainable Development and International Relations – IDDRI, World Resources Institute – WRI, United Cities and Local Governments – UCLG, Global Fund for Cities Development- FMDV