Finance in Common Summit takes place in Rome on 19 and 20 October

After the inaugural Summit in Paris in November 2020, this edition was hosted by Cassa Depositi e Prestiti (CDP), in partnership with the International Fund for Agricultural Development (IFAD), under the auspices of the 2021 Italian G20 Presidency, in Rome on 19 and 20 October 2021.

For the second time, the whole community of Public Development Banks (PDBs) gathered with its stakeholders as a unique platform to share research and experience, and frame new partnerships to contribute to the Covid-19 recovery and the 2030 Agenda. More than 160 high-level speakers participated online and in-person in more than 20 events over these two days, with a specific focus on the pressing issue of sustainable agriculture, agribusiness, and food systems, how these interact with local development, inclusion, biodiversity conservation, and climate action, and the key role of PDBs.

This Summit was also an opportunity to review progress of the PDB Coalition at the global, thematic and regional levels, and consolidate ongoing work – from supporting African SMEs, to assessing and mainstreaming nature-related outcomes, to advancing platforms for agriculture, gender equality, water and social investments, and to tracking climate mitigation and adaptation finance. Participants actively exchanged perspectives and reflected on challenges to increase effectiveness including as part of countercyclical responses and broader policy interventions.

The overall program confirmed the centrality of scaling up sustainable finance globally through better international coordination of PDBs with national governments, financial market players, and companies.

Echoing this outcome and honoring the FiCS movement, the G20 Finance Ministers and Central Bank Governors recognized: “the important role of Public Development Banks towards the achievement of the SDGs and the Paris Agreement goals” (14 October 2021 Communiqué), in line with the goal of catalyzing more public and private resources as part of coherent and SDG-aligned international financial system.

The PDB Coalition, being more equipped to deliver on its Joint Declaration, is increasing collaboration with civil society, private investors, cities, donors, think tanks and academia in the areas of sustainable investment, innovation, and outreach. This year, the Global Impact Investing Network (GIIN) and the Long Term Infrastructure Investors Association (LTIIA) signed the PDBs’ Joint Declaration. FiCS also welcomes the acknowledgement by the Berne Union, the leading global association for the export credit and investment insurance industry, of the common goals set by PDBs under their Joint Declaration. 

If you wish to watch or share this experience, videos of all the sessions are available at the following link: The 2nd edition of #FinanceinCommon2021 Summit - Villa Aurelia Rome - YouTube