The European Investment Bank (EIB) Group in partnership with the Financial Alliance for Net Zero convened a high-level exchange with leaders of multilateral development banks (MDBs) and private sector CEOs at the International Conference on Financing for Development in Seville to deepen cooperation and scale private sector investment in emerging markets and developing economies.
Heads of the African Development Bank, Asian Development Bank, Asian Infrastructure Investment Bank, Council of Europe Development Bank (CEB), European Bank for Reconstruction and Development, European Investment Bank, Inter-American Development Bank, Islamic Development Bank and the World Bank Group and leaders of private sector financial and corporate institutions convened for a high-level roundtable to accelerate joint action to mobilise private capital for sustainable development goals.
The participants identified opportunities around scaling up successful and existing public-private partnerships and financial instruments, MDBs providing local currency finance and hedging instruments – including through commercial banks – sharing risk statistics through the Global Emerging Markets Risk Database (GEMs), blending instruments, local capacity building and engaging with governments and regulators to create the right conditions for private investment to thrive.
The roundtable in Seville followed the Heads of MDBs meeting, hosted by the CEB on Saturday in Paris, where in a Joint Statement the participants highlighted private capital mobilisation as a system-wide priority, in line with the Viewpoint Note from Washington in April 2024.