- Hellenic Development Bank (HDB) is one of two new D20 Long-Term Investors Club members
- President Hoyer’s mandate as Chairman of the Club is extended for two years, decision made on margins of G20 Finance Ministers and Central Bank Governors Meeting in Denpasar, Indonesia
- D20 Long-Term Investors Club works under the framework of G20 to facilitate more long-term, green and sustainable investments and accelerate economic development and sustainable growth around the world
European Investment Bank (EIB) President Werner Hoyer welcomed the Hellenic Development Bank (HDB) as a new member of the D20 Long-Term Investors Club (D20-LTIC) as it was announced he will continue as the co-chair of the organisation, following the Club’s Steering Committee decision to extend his mandate for two more years.
The Steering Committee met on the margins of the G20 Finance Ministers and Central Bank Governors Meeting in Denpasar, Indonesia, and welcomed the Hellenic Development Bank as one of two new member organisations — PT Sarana Multi Infrastruktur (PTSMI), Indonesia’s national entity for infrastructure development, is the second new member.
The D20 Long-Term Investors Club works within the framework of the Group of 20 (G20) to promote the role of long-term finance in driving economic development and sustainable growth around the world. President Hoyer has co-chaired the Club since 2019, together with Dr Ibrahim Almojel, Chief Executive Officer of the Saudi Industrial Development Fund (SIDF).
With the addition of its two new members, the D20 Long-Term Investors Club now consists of 24 organisations, including long-term investors such as the EIB, the German and Italian national promotional banks KfW and CDP, the Saudi Industrial Development Fund and other major financial institutions financing economic development, sovereign wealth funds, pension funds, public retirement funds and insurance funds.
EIB President Werner Hoyer said: “I am truly honoured to have my mandate at the head of the D20 Long-Term Investors Club extended today in Denpasar. It is a clear sign of the trust the international investor community places in the EIB through its new arm EIB Global and our ability to offer effective solutions for the major investment challenges the world faces today. Investment in infrastructure can be a powerful driver of the sustainable economic and social development of the global economy, provided these investments are green, sustainable and socially conscious. Working with G20 to unlock vital infrastructure investment, and increased cooperation for more responsive financial instruments and project preparation, will be my top priorities.”
“I am also delighted to welcome the Hellenic Development Bank to the D20 Long-Term Investors Club. Ensuring that businesses across Greece can access financing, innovate, create jobs, and withstand the challenges enhanced by COVID-19 is a shared goal of the Hellenic Development Bank and the EIB Group. The HDB is a key source of financing for Greek small and medium-sized enterprises and banks that is able to assume business risk normally not taken by commercial banks. The D20 is well positioned to bring value to both the HDB and people in Greece through its knowledge, expertise and smart financial instruments that help facilitate better access to funding for small businesses and foster entrepreneurship.”
The Chairwoman and CEO of HDB Athina Chatzipetrou said: “It is a great pleasure for the Hellenic Development Bank to be part of the D20 Long-Term Investors Club. The Hellenic Development Bank is a development institution that shares the same values and supports sustainable economic growth. Our diversity makes our commitments stronger. We will continue working towards reducing economic inequalities, facilitating access to funding for entrepreneurs, improving developmental outcomes, and overcoming rising challenges with smart financial tools as well as enhanced synergies and partnerships.”
A global enabler of green and sustainable investments
The D20 Long-Term Investors Club works in partnership with the G20 and other relevant multilateral platforms to provide expert insight, thought leadership and best practice solutions to unlock more green and sustainable investments worldwide. The organisation also provides a forum for its members to share valuable knowledge and insights on global investments.
D20 LTIC works to increase green and sustainable infrastructure investment globally, and brings vital investments from the private sector to public sector projects.
Background information
EIB Global is the EIB Group’s new specialised arm dedicated to increasing the impact of international partnerships and development finance. EIB Global is designed to foster strong, focused partnership within Team Europe, alongside fellow development finance institutions and civil society. EIB Global brings the Group closer to local people, companies and institutions through our offices across the world.
The Hellenic Development Bank (HDB) is the national development institution of Greece, working alongside the Greek banking sector. HDB contributes to the driving force of Greek businesses as a pillar of growth of the national economy. It designs financial products and tools that cover counterpart financing gaps and promote access to finance for entrepreneurs. Its vision is to be a leading development institution that serves enterprises’ needs to succeed while fostering a fair, inclusive and sustainable environment.