SelectUSA’s Post

Innovative financial ideas with impact — Lazard welcomes the decision by the International Monetary Fund (IMF) to allow the recycling of Special Drawing Rights (SDR) via hybrid debt issued by Multilateral Development Banks. SDR 15bn of investment by rich countries = nearly SDR 40bn (USD 57bn) lent to poor countries. Powerfully sponsored by the African Development Bank Group and Banque Interaméricaine de Développement.   Read our February 2022 Policy Bief: Rechannelling SDRs in a responsible and efficient way — the case for rerouting SDRs through Multilateral Development Banks: https://lnkd.in/eyj5vW4P

Check out this new report! At the risk being cliche, bigger is not always better. How climate finance is spent is more important than how much is spent, otherwise we risk repeating the mistakes of the fossil fuel extractivist economy!

The Big Bank Theory - Do bigger multilateral development banks mean better development outcomes? A new briefing, published today by Recourse Christian Aid Big Shift Globaland Trend Asia, challenges this assumption. We call on the The World BankIFC - International Finance Corporation International Monetary Fund Asian Development Bank (ADB) Asian Infrastructure Investment Bank (AIIB) and other MDBs to focus on improving the quality, and the accountability, of their financing, rather than the quantity. The report calls out the current approach of #MDBs which focuses on leveraging private sector financing to boost its lending capacity. This risks derailing development outcomes in pursuit of private profits. The continued push for a “bolder bank” is also undermining accountability standards by delegating financial decision-making authority from government shareholders to MDB management. And the incessant focus of tripling renewable energy finance by 2030, while a welcome development, leads to a systematic neglect of the impacts of extractive green industries and false solutions, and will be undermined by the MDBs failure to comprehensively #StopFundingFossilFuels for good. More here 👉 https://lnkd.in/enmNiGTD

In Charts: How Middle East sovereign funds are cementing their global dominance https://lnkd.in/gE5G5WuR Stay ahead of the curve with VCCircle. Subscribe now for the latest market movers or visit https://www.vccircle.com/ to keep your competitive edge sharp! #StayInformed #MarketTrends #subscribetoday #VCCircle #VentureCapital #privateequity

Our final panel of this year’s Global Official Institutions Conference discussed the Multilateral Development Bank (MDB) reform agenda and the unlocking of private sector #finance in the fight against poverty and #climatechange.

Exploring blue finance opportunities in #Jamaica! IFC - International Finance Corporation brought together high-level representatives from the leading Jamaican banks, the Jamaica Stock Exchange, industry experts, and other key stakeholders for a discussion on the transformative potential of the #BlueEconomy in the nation's financial sector. Learn more about it 👇. Elizabeth Martinez de Marcano, Ronke-Amoni Ogunsulire, Marcela Ponce Perez, Carlos Serrano, Jennifer Fievre, Roberto Rubio Miranda, Judith Uher, Selvine Stephenson, Juan Pablo Barquiza, Ariana Melchor Bazalar, JB Collier, Nataliya Mylenko

#DearG20 Our global financial system must empower progress, not stifle it. Hear what African leaders had to say about the IDA (International Development Association), The World Bank's people and planet fund. Their vision offers win-wins for Africa and the world.  #FinanceTheFuture

Download our Global SSA Special Report 2024 to explore the latest developments in the major multilateral development banks. 𝐖𝐡𝐚𝐭'𝐬 𝐢𝐧𝐬𝐢𝐝𝐞? No easy wins in development bank power-up ‘Big leap forward’ needed to propel EU to safe asset status Supras learn to change in changing world Agencies sharpen tactics in year of the yield grab Sovereigns reach retail inflection point 𝐀 𝐬𝐩𝐞𝐜𝐢𝐚𝐥 𝐭𝐡𝐚𝐧𝐤 𝐲𝐨𝐮 𝐭𝐨 𝐨𝐮𝐫 𝐫𝐨𝐮𝐧𝐝𝐭𝐚𝐛𝐥𝐞 𝐩𝐚𝐫𝐭𝐢𝐜𝐢𝐩𝐚𝐧𝐭𝐬: Yuri Kuroki, head of funding, Americas, IFC - International Finance Corporation David Bai, treasurer, Bank of China USA (New York) Ali Nauman, executive director, SSA debt capital markets, Santander Andrea Dore, global head of funding, The World Bank Eusebio Garre, head of funding, IDB Invest Ignacio Bas, European head of SSA debt capital markets, Santander Darren Stipe, head of funding, Asian Infrastructure Investment Bank (AIIB) Moderator: Oliver West, US bureau chief, GlobalCapital Report supported by CEB - Council of Europe Development Bank, KfW and Santander #capitalmarkets #europe #ssa #eu #banks

In response to the G20’s calls for Multilateral Development Banks (MDBs) to become better, bolder, and bigger, I’m pleased to share that the Asian Development Bank (ADB) has published a new Report on Callable Capital that provides, for the first time, greater clarity and transparency on the value of this instrument. Callable capital is capital that is subscribed to by shareholders that has not been paid-in. Unique to MDBs, it's a commitment from each shareholder to step in with additional capital, but only under extreme circumstances to avoid defaulting on bond or guarantee obligations. Although it’s never been used by any MDB before, the big takeaway is that ADB’s shareholders have expressed their readiness to respond positively to a call, if the need arises. The analysis sheds light on the robustness of ADB's financial framework and will help rating agencies to better assess the value of callable capital to MDBs. This is part of our ongoing efforts to free up more funding maintaining our top-notch AAA credit rating. I am incredibly proud of ADB's team for pushing the envelope to make this happen and thank Board Members for their great support. Read the Report https://lnkd.in/dd_7T_Tc News release https://lnkd.in/dQftBHJQ David Le Brun, Luca Di Mario, Nicholas McBride

The African Development Bank achieved a milestone on 30 January with the launch and pricing of its first Sustainable US dollar-denominated 750 million perpetual subordinated hybrid capital notes, an innovative form of capital that increases sustainable lending capacity. With strong demand from over 275 investors, of which more than 190 were allocated, the order book peaked at $6 billion. The first from a multilateral development bank, the issuance marks the Bank’s pioneering role in optimising its balance sheet in line with the #G20 Capital Adequacy Framework recommendations to boost lending capacity. “This landmark transaction was received with marked enthusiasm by a broad range of investors. It paves the way for the African Development Bank and other AAA-rated Multilateral Development Banks to further leverage their capital base and increase their support to Africa and the developing world, who are facing multiple crises and long-term development challenges, in a context of constrained development resources,” said Hassatou N'Sele, Vice President for Finance and Chief Financial Officer at the Bank. This Sustainable Hybrid capital bond issuance also marks a decade of #ESG bond leadership for the Bank, building on a track record with green, social and #sustainability bonds that drive progress towards #climate action and the socioeconomic priorities of African countries. Details: https://bit.ly/3HIENGd