DebtTalks Episode 14. Bridging development gaps: the role of public development banks ahead of the Seville Summit
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May 20, 2025 Nicolas Picchiottino, Secretary General of IDFC and Head of Public Development Banks at AFD, sheds light on how public development banks are pivotal in bridging development gaps and financing sustainable initiatives. He discusses the challenges of climate finance, especially after the U.S. withdrew from the Paris Agreement, and emphasizes the importance of mobilizing resources through collective efforts. Picchiottino also highlights initiatives promoting gender finance, showcasing the positive impact of women-led businesses on financial stability.
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Public Development Banks' Unique Role
- Public development banks focus on maximizing social and environmental benefits over profits.
- They provide finance with a goal to create positive externalities like reducing poverty and emissions.
Renewables: Public to Private Shift
- Ten years ago, public development banks funded renewable energy projects like solar panels.
- Now, private sector financing dominates as the technology has matured and markets developed.
Advancing Public Bank Finance Strategies
- Advocate for aligning mandates of public development banks toward climate and SDGs financing.
- Push for regulatory reforms to reduce capital costs and create dedicated public development bank bond classes.