Eurodad briefing on FiC: Development Finance Institutions and Covid-19: Time to reset

Between 9 and 12 November 2020, over 400 Public Development Banks (PDBs) will be gathering (virtually) at the first Finance in Common summit to discuss how they will contribute to the global Covid-19 recovery effort. Development Finance Institutions (DFIs) – an important part of the diverse PDB landscape – are called upon by policy makers to play a key role in these efforts, fostering growth and job creation. However, an analysis of how DFIs are responding to the Covid-19 crisis suggests they are unable to foster inclusive and sustainable businesses and spur a much needed transition to low-carbon economies.

  • Our research shows five of world’s largest DFIs – including the World Bank IFC – have directed just 2% of investments to companies based in low income countries
  • CSOs call for a rethink during virtual Finance in Common (FIC) summit next week, where 400 public development banks, including DFIs, will discuss their role in the Covid-19 recovery effort

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