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News

May 8, 2017

The Steering Group Meeting of the International Development Finance Club (IDFC)

Overview

photoRepresentatives from each institutions. From left, Mr. Koki Hirota, Mr. Hugo Sarmiento, Mr. Rémy Rioux, Mr. Shinichi Kitaoka, Mr. Roland Siller, Mr. Hamid Tawfiki, Mr. Vinicius do Nascimento Carrasco, Mr. Farid Masmoudi.

Name of Meeting: The Steering Group Meeting of the International Development Finance Club (IDFC)
Date: 8th May, 2017
Sponsors: The Secretariat of the IDFC and JICA
Location: JICA Headquarters, Tokyo, Japan

Moderators and panelists

photoA map showing the locations of IDFC member institutions (Blue: Steering Group members, White: General members)

Participants:
- Mr. Roland Siller(Executive Board Member, KfW)
- Mr. Rémy Rioux(CEO, AFD)
- Mr. Vinicius do Nascimento Carrasco(Director, BNDES)
- Mr. Hugo Sarmiento(Chief Financial Officer, CAF)
- Mr. Hamid Tawfiki(CEO, CDG)
- Mr. Farid Masmoudi(Director, ICD)
- Mr. Shinichi Kitaoka(President, JICA)
- Mr. Koki Hirota(Chief Economist, JICA)
In addition to above-mentioned main participants, the Sherpas and other staff members who support representatives from each institutions also joined the meeting.

Primary objectives and outcomes

photoMr. Shinichi Kitaoka explains recent international situations surrounding international development.

IDFC is a network of DFIs (Development Finance Institutions), including bilateral DFIs of developed countries' governments, domestic development banks in emerging economies and sub-regional DFIs. In total, 23 institutions are members of IDFC.
IDFC holds a Steering Group (SG) Meeting twice a year in order to discuss and agree on the direction of IDFC's activities. KfW, as the IDFC Secretariat, and JICA co-hosted this year's SG Meeting in order to exchange opinions regarding the roles of IDFC in recent international situations and to confirm the progress and future direction of working groups established on some key topics which IDFC member agencies have an interest in.

Content of the discussions

photoMr. Koki Hirota gives an overview of JICA's operations in 2016, the economic outlook in Asia, and estimated demand for infrastructure in Asia.

JICA President Shinichi Kitaoka delivered opening remarks and emphasized that international collaborations and partnerships are essential from the viewpoint of implementation of 2030 Agenda(SDGs), Paris Agreement and other key international agreements. He also expressed his high expectations for the IDFC's functions to promote multilateral partnerships and pointed out that IDFC has the possibility to become a platform to mobilize private finance in order to fill the global financial gaps for sustainable development. Following Mr. Kitaoka's remarks, JICA Chief Economist Mr. Koki Hirota gave an overview of JICA's operations in 2016, the economic outlook in Asia, and estimated demand for infrastructure in Asia.
The participants exchanged their opinions regarding the role of IDFC under the current international situation. Key phrases - mobilization of private resources, innovation, capacity development for infrastructure development, expansion of partnership with wider stakeholders, and refugee crisis - are pointed out in relations to the pillars of implementation of the SDGs, multilateral partnerships and South-South and North-South partnerships.
During the meeting, a map showing the locations of IDFC member institutions was presented, and it was confirmed that IDFC is a unique network consisting of global members for Cooperation for Development, beyond North-South and South-South, with a worldwide presense and impacts. Also, the necessity of collaboration among member institutions, via working groups such as climate finance and sustainable city, also were reaffirmed.

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