About Finance in Common 2023
Colombia hosted the World Bank Summit for the first time
The fourth edition of the Finance in Common Summit (FiCS) brought together the global network of Public Development Banks (PDBs) in Cartagena, Colombia, to strengthen their coordination and collaboration with high-level government officials, delegates from international organizations, private sector representatives, and civil society, to promote sustainable development and align financial flows to the 2030 Agenda and the Paris Agreement.
Hosts:
In partnership with:
What is FiCS?
FiCS is a multi-stakeholder initiative launched in France in 2020, bringing together more than 520 public development banks of all types (multinational, regional, national and sub-national) and from all regions, as well as regional networks, international organization, private sector representatives, academic, civil society organizations and local actors.
FiCS aims to align the entire financial system with the Sustainable Development Goals and the Paris Agreement.
FiCS is the International Summit of Public Development Banks, whose goal is to promote sustainable financing through innovative financial tools to achieve the Sustainable Development Goals (SDGs).
The fourth edition will showcase the importance of PDBs in implementing concrete actions to make finance more sustainable, equitable, and inclusive.
FiCS 2023: New Alliances for the Next Generation of Development Financing
FICS 2023 included academic exchanges, discussions on the latest innovations in financing for sustainable development, and approaches to solving pressing social problems.
The event featured a total of (6) plenary sessions, (15) workshops, (5) panel discussions, and (8) parallel events on sustainable development.
Sessions focused on four main themes:
Sessions will focus on four main themes:
SMEs AND FINANCIAL INCLUSION
Smaller businesses, women or vulnerable populations are traditionally excluded from the formal financial system and PDBs can play a key role to increase their economic opportunities.
Climate and biodiversity
PDBs must have a leading role in developing new tools to close the financial gap for mitigation and adaptation to climate change and to promote the protection of natural capital and the biodiversity.
Sustainable infrastructure
Most emerging economies face infrastructure investment gaps along with the need to make the energy transition, increase digital connectivity and ensure sustainable access to basic services for all.
PDBs INSTITUTIONAL AGENDA
All these challenges ahead need better institutional capacity, regulation, and governance of the development finance ecosystem.
And will also cover four cross-cutting issues:
MAINSTREAMING AND DEVELOPMENTAL IMPACT
The objective is to promote the role of PDBs in social investment and measure their concrete impact on the ground.
PRIVATE CAPITAL MOBILIZATION TOWARDS SDG GOALS
SDG financing needs exceed PDBs balance sheets and private capital mobilization tools are required to channel more resources from the private sector to sustainable development goals.
PDBS COLLABORATION WITH CIVIL SOCIETY AND INCLUSION OF HUMAN RIGHTS
Sustainable development cannot be achieved without the inclusion of human rights in PDBs’ strategies and operations.
LATIN AMERICA AND CARIBBEAN PERSPECTIVE
The summit will integrate LAC’s perspective on the challenges and opportunities faced by PDBs in the region.
Welcome to Cartagena
Colombia, a country located in one of the most biodiverse areas in the world, will host the Fourth Summit of Development Banks from September 4 to 6, 2023. The event will take place at the Cartagena Convention Center.
Cartagena is a walled city in the Colombian Caribbean. It is famous for its cobbled streets, colonial architecture, and dreamy beaches. With tropical weather and great cultural diversity, Cartagena is known for its hospitality and the kindness of its people. It will be the host of FiCS 2023.
