AFD and ADFIAP join forces to promote green finance among Development banks in Asia and Pacific region
published on 20 December 2021
Agence Française de Développement (AFD) and the Association of Development Financing Institutions in Asia and the Pacific (ADFIAP) signed a partnership agreement on December 10 to promote climate finance and Sustainable Development Goals among national development banks in Asia and the Pacific.
As a demographic giant, Asia has become one of the engines of global economic growth in a few decades. The development of the region and the resulting environmental and social challenges are huge. Their consequences, particularly ecological, must be addressed through a regional approach.
Facing these challenges, development banks have a central role to play, as they provide financing to strategic sectors and could play a counter-cyclical role in times of crisis. In order to support them, AFD and ADFIAP have decided to join forces with a partnership aiming to provide capacity building to ADFIAP members through trainings and knowledge sharing, to better implement green finance practices in their activities.
This emerging partnership will also position AFD as an ADFIAP member, promoting exchanges with other members and potentially leading to new financing opportunities.
"We are delighted to sign this partnership with ADFIAP, a major development player in the region. Development of green finance is a priority for us in order to support Asia Pacific in its transitions" explained Yazid Bensaïd, Regional Director for Southeast Asia.
“We are grateful to sign this partnership with AFD, a financial institution whose governance is based on a set of structures that ensure the organization's functioning is transparent and well-managed, which is one of the pillars we are advocating”, said Enrique Florencio, ADFIAP Secretary General.
