Madrid, 25 april 2022.- José Luis Curbelo, President of COFIDES, and the leaders of more than 15 Development Finance Institutions (DFIs) gathered today to affirm their commitment to transparent and sustainable private sector investment in priority sectors essential to development. The group of DFI leaders reiterated their support for an initiative first announced at the Carbis Bay G7 Summit last year that contributes to achieving the shared objectives of the DFI community to meet the infrastructure needs of low and middle-income countries.
The leaders also agreed to collaborate to deploy high-value standards, diversify sources of critical goods and supply chains, and maximize development impact through their investments. Convened by U.S. International Development Finance Corporation (DFC), the participating G7 and European DFIs included BII, DEG, FinDev Canada, CDP, Simest, Proparco, JBIC, JICA, Norfund, Swedfund, BIO, COFIDES, Finnfund, IFU, OeEB, SIFEM, and SOFID.
Each DFI brings its unique financial tools and mandate to this collaboration—offering emerging markets a powerful and diverse array of financing instruments to support economic growth. Shared priorities include climate, health, gender equality, and digital connectivity. Moving forward, the DFIs agreed to share collective progress in advancing private sector investment in these areas, tracking the transformative development outcomes this collaboration will yield.
"COFIDES will support, together with the private sector, these priority sectors, which result in the economic and social development of less developed countries," said José Luis Curbelo. "Through joint work and partnerships with the private sector, we are able to promote sustainable development in line with the 2030 Agenda of the United Nations. These initiatives become especially necessary today, when we are witnessing major transformations in value chains and traditional investment flows, with an uneven impact in different areas of the world."
“Working together, DFC, EDFI, and our partner development finance institutions will provide truly transformative financing, boosting private sector engagement in international development,” said DFC CEO Scott Nathan. “Collaboration with our partners will be key to our collective success in supporting innovative financing transactions that boost quality infrastructure in emerging economies.”
ABOUT DFC
U.S. International Development Finance Corporation (DFC) partners with the private sector to finance solutions to the most critical challenges facing the developing world today. We invest across sectors including energy, healthcare, critical infrastructure, and technology. DFC also provides financing for small businesses and women entrepreneurs in order to create jobs in emerging markets. DFC investments adhere to high standards and respect the environment, human rights, and worker rights. Visit www.dfc.gov and @DFCgov on Twitter to learn more.
ABOUT COFIDES
COFIDES, a state-owned company engaging in the management of State and third-party as well as its own funds, pursues a number of aims: internationalisation of Spain’s economy, furtherance of economic development and fortification of the solvency of companies affected by COVID-19. In addition to the Spanish State, its shareholders include Banco Santander, Banco Bilbao Vizcaya Argentaria (BBVA), Banco Sabadell and Development Bank of Latin America (CAF).
