The G7 Development Finance Institutions (DFIs) and the Association of bilateral European Development Finance Institutions (EDFI) met today to deepen their collaboration on G7 matters through the DFI Alliance. DFIs are committed to promoting sustainable and inclusive private sector development in emerging and developing economies through their investments and expertise.
The DFIs agreed to use the Alliance as a platform to focus on G7 initiatives, particularly to coordinate their involvement in the preparation, commitment and monitoring of relevant G7 initiatives.
The Chair of the Alliance will now rotate in parallel with the Chair of the G7. CDC (as the UK DFI) will hold the Chair until the end of 2021 and then DEG will take over as Germany takes on the G7 Presidency.
Nick O’Donohoe, Chief Executive of CDC Group, (which will be renamed British International Investment early next year), chaired the meeting today and said:
“G7 DFIs have launched an ambitious set of initiatives under the G7 umbrella this year and this Alliance will serve as a useful platform to discuss and coordinate matters of G7 policy that DFIs can contribute to”.