The volume of activity of the world’s 450 public development banks amounts to about US$2 trillion annually – a staggering 10 per cent 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, PDBs are more relevant than ever to helping to reconcile necessary short-term responses to COVID-19–related crises with solutions for reaching the Sustainable Development Goals and delivering on the Paris climate agreement.

As part of FIC, IFAD is organizing a High-Level Event: Financing sustainable food systems – Public Development Banks as catalysts of new investment models. It will bring together experts from agricultural banks and farmer representatives to discuss the critical role PDBs play in financing future sustainable and inclusive food systems, and in addressing market failures – particularly in times of crisis such as the current COVID-19 pandemic. 

The agri-food sector is one of the largest economic sectors globally with huge significance for livelihoods, a large environmental footprint, and massive untapped business potential. The event will showcase innovative approaches to strengthen and leverage PDBs' role in mobilizing finance from different sources, including development, climate and commercial finance.

During the event, the outcome of discussions at the High-Level Dialogue - Common vision, common action - Towards financing sustainable food systems, held on 30 November, will be presented.

Speakers

Maman Lawal Mossi, Chief Executive Officer, Banque Agricole du Niger (BAGRI)

Zhang Wencai, Vice President, Agricultural Development Bank of China (ADBC)

Estrella “Esther” Penunia, Secretary General, Asian Farmers' Association for Sustainable Rural Development (AFA)

Gilbert F. Houngbo, President, IFAD