National development banks: bridge builders for policies and drivers for alignment
Room: BB3
Description
National development banks (NDBs) are poised to play a key role in aligning private finance with the SDGs and the objectives of the Paris Agreement. While the assets under management in NDBs dwarf multilateral development bank financing in many developing countries, their transformative potential goes beyond the sheer volumes of finance provided. Their unique value added lies in the ability to support policy makers and market creation, the provision of local currency financing and their role in intermediating international climate finance.
The Organisation for Economic Co-operation and Development (OECD), the International Development Finance Club (IDFC) and the Overseas Development Institute (ODI) are jointly organizing this side event to discuss the role of NDBs, collate evidence on challenges to unlock their potential, and explore opportunities to address these challenges. The discussion will draw on key messages of the OECD report 'Scaling up climate-compatible infrastructure: Insights from national development banks in Brazil and South Africa' and the launch of a new ODI report ‘Securing climate-smart investment through national development banks’. It will further highlight key next steps and priority action areas for NDBs in raising ambition within the Paris Agreement on climate change.
