1. WFDFI BOG meets in Washington, D.C.

    The World Federation of Development Financing Institutions (WFDFI) Board of Governors (BOG) met in Washington, D.C. on October 12, 2017. The meeting, held under the auspices of the American Society of Association Executives (ASAE) at their headquarters in the U.S. capital, were attended by the secretaries general of the four member-regional associations of DFIs, namely, the Ivory Coast-based African Association of DFIs (AADFI), the Lima, Peru-based Association of DFIs in Latin America and the Caribbean (ALIDE), the Istanbul-based Association of DFIs in Member-Countries of the Islamic Development Bank (ADFIMI) and ADFIAP.

    Among others, the BOG discussed programs and activities to enhance the existing work plan and agreed to further strengthen the relationships and resources of the Federation.

    The WFDFI www.wfdfi.net was established in June 1979 in Zurich to coordinate the work and advocacies of the different regional DFI associations around the world and serve as a platform for information and knowledge exchange.

  2. ADFIAP assumes as WFDFI Secretariat

    ADFIAP-To-Assume-As-WFDFI-Secretariat In its Board of Governors (BoG) meeting held at the ALIDE Headquarters in Lima, Peru on October 7, 2015, the World Federation of Development Finance Institutions (WFDFI) has designated ADFIAP as its Secretariat starting in January 2016. It is the second time since 2010 that ADFIAP has been appointed as WFDFI Secretariat. Consequently, ADFIAP Secretary General, Octavio B. Peralta, has been named as WFDFI Secretary General also for the second time in five years.

    The BoG meeting was attended by all four regional association-members of the WFDFI, namely, ADFIAP, the Association of African Development Finance Institutions (AADFI), the Association of National DFIs in Member Countries of the Islamic Development Bank (ADFIMI) and the Association of Latin American and Caribbean DFIs (ALIDE).

    The rotation of the WFDFI Secretariat amongst its regional DFI members was initiated in 1994 by the BoG which is composed of the Secretaries General of the regional associations.

    The WFDFI was founded in Zurich in June 13, 1979 at the UNIDO-organized Development Bank Conference by AADFI, ADFIAP, ALIDE and KfW of Germany to serve as a forum for the regional DFI associations to exchange experiences and best practices and to serve as the focal point for DFIs around the world.

  3. ADFIAP speaks at WFDFI international conference on development banking

    wfdfi-conference Under its commitment as a member of good standing of the World Federation of Development Finance Institutions (WFDFI), ADFIAP, represented by its Secretary General, Mr. Octavio B. Peralta, spoke and presented a global situationer of development finance institutions (DFIs) before an audience of about 100 participants from different countries of the world attending the international conference on development banking in the 21st century in Lima, Peru on October 8, 2015 at the headquarters of the Association of Development Finance Institutions in Latin America and the Caribbean (ALIDE).

    Aside from the four WFDFI regional association members, namely, ALIDE, the Association of African DFIs (AADFI), the Association of DFIs in Asia & the Pacific (ADFIAP) and the Association of National DFIs in Member-Countries of the Islamic Development Bank (ADFIMI), participants from multilateral development banks such as the InterAmerican Development Bank (IDB) also attended the event.

    The aim of the conference was to present a global perspective on the role, activities and practices of DFIs as well as trends in development banking around the world through WFDFI’s four regional member-associations cited above. The three conference sessions were themed, “Worldwide Development Banking: Concepts & Achievements, “Public Policies & Fields of Action of DFIs and “Public Development Banks: Toward a New Model”.

  4. O B I T U A R Y : WFDFI regrets the sudden demise of Dr. Rommel Acevedo, the legendary Secretary General of ALIDE

    rommel_premio WFDFI regrets the sudden demise of Dr. Rommel Acevedo, the legendary Secretary General of ALIDE (la Asociación Latinoamericana de Instituciones Financieras para el Desarrollo), and former Secretary General of World Federation of Development Finance Institutions, to WFDFI. We shall no doubt miss him dearly in view of the great contributions he has made to the work of ALIDE, to WFDFI and to development finance community at large.

    He was 62 and survived by his wife and children.

  5. IsDB – World Bank – WFDFI Joint Islamic Finance Conference was held at the World Bank Main Building, Washington DC, USA on 11 October 2013, between 11.00 – 15.00 Hours



    Islamic financial instruments are proving to be more stable and resilient to market volatility and risks. Moreover, the ample liquidity seeking investments in Islamic financial instruments provide a strong argument for the relevance of Islamic finance in sustainable economic development and growth.

    The Islamic Development Bank, the World Bank and the World Federation for Development Financing Institutions co-hosted a conference on Islamic Finance on October 11, 2013, as part of the World bank/IMF Annual meetings, to discuss the recent developments in the global Islamic finance industry, and pinpoint its relevance to development finance and fostering shared prosperity.


    The conference proceeded in accordance with the programme in the booklet.

    Mr. Hakan Atilla, Deputy CEO of Halkbank was the first speaker, replacing Mr. Süleymen Aslan, the CEO, due to Mr Aslan’s unexpected last minute schedule change. Mr Atilla welcomed the participants on behalf of WFDFI and thanked IDB and the World Bank for providing the distinguished speakers, as well as the meeting hall and catering services.

    Dr. Ahmad Mohamed Ali, the President of the Islamic Development Bank, inaugurated the meeting highlighting the role of Islamic financial instruments in economic development. Dr. Mahmoud Mohieldin – World Bank’s President Special Envoy had provided a keynote address in which he highlighted the World Bank’s views on priority areas that merit the mobilization of global development finance resources. Dr. Tunc Uyanik, Director of the East Asia and Pacific Region and Financial Systems Global Practice, and Chair of the World Bank Group’s Islamic Economics and Finance Working Group had shared the latest update on the World Bank efforts to support and provide inclusive solutions to the World Bank client countries to deepen Islamic financial markets as well as on close collaboration with the Islamic Development Bank to ensure the soundness of the Islamic finance industry.

    A wide range of global leading experts in the field of Islamic finance participated as discussants and speakers as well as high level government officials and policy makers. There were over 200 participants.

    There were three separate sessions dealing with:

    • How does Islamic banking and finance contribute to sustainable development and inclusive growth?
    • How can the Islamic financial sector contribute to a more resilient financial sector? – Lessons from the Financial Crises?
    • Towards a stronger regulatory and institutional framework of the Islamic financial sector – Challenges and perspectives.

    At the end of each session there were question and answers.

    Click here for the video of the proceedings:
    Session1      Session2
  6. ADFIMI chairman Mr. Mehmet Emin Özcan is the new WFDFI chairman

    Board of Governors (BOG) Meeting, Tokyo, 11 October 2012

    The following members were present:

    Mr. Mehmet Emin Ozcan, Chairman, ADFIMI, Presiding Chair
    Mr. Octavio B. Peralta, Secretary General, ADFIAP/WFDFI
    Mr. Joseph Alfred Amihere, Secretary General, AADFI
    Mr. Nuri Birtek, Secretary General, ADFIMI
    Mr. Ricardo Palma Valderrama, ALIDE/WFDFI Adviser,
    representing Dr. Rommel Acevedo, Secretary General, ALIDE

    The meeting started at 9:30 a.m., at the HQ of Development Bank of Japan (DBJ). Members thanked DBJ for hosting it at their premises. After the approval of the Minutes of the last BOG Meeting held in Karlsruhe, Germany, the Secretary General’s Report was approved. Mr Octavio Peralta described his work since last BOG Meeting.

    Mr. Palma, at the initiative of ALIDE Secretary General, Mr. Rommel Acevedo, personally invited the World Federation to meet in Peru in 2015 at ALIDE’s headquarter city of Lima, on the occasion of the Annual Meetings of the WB/IMF which will be held there during that year.

    As per alphabetical rotation agreement among the members, ADFIAP, after ending its 3-year term as WFDFI Secretariat/Chair on December 31, 2012, has turned over the same to ADFIMI which will start its term on January 1, 2013.

    Click here for photos

  7. 3rd International Conference on Global Sustainable Finance

    The 3rd International Conference on Global Sustainable Finance was held Karlsruhe 04-05 July 2013

    There were 13 speakers and 64 participants. It was hosted by EOSD European Organization for Sustainable Development and the Municipality of Karlsruhe.

    WFDFI Secretary General Mr. Nuri Birtek made a speech at the opening session. The speech, the program of the conference, the list of participants and papers presented can be accessed below.

    The Speech of Secretary General Mr. Nuri Birtek:

    Dear Mr Michael Kaiser, Head of Economic Development of Karlsruhe
    Mr Arshad Rab, CEO, European Organization for Sustainable Development,
    Mr. Octavio Peralta, SG, ADFIAP
    Distinguished contributors, Ladies and Gentlemena,

    A very good morning to you all, and a beneficial conference.

    I take great pleasure in being among you in Karlsruhe and addressing you in my capacity as the secretary general of World Federation of Development Finance Institutions under whose auspices this conference is being organized. I would also thank Mr. Rab for extending an invitation.

    Allow me to begin with an introduction to WFDFI.

    WFDFI comprises of four associations of National Development Finance Institutions (NDFIs) which operate in the regions of four international development banks. These, in alphabetical order of their abbreviations, are AADFI, under African Development Bank, ADFIAP, under Asian Development Bank, ADFIMI, under Islamic Development Bank, and ALIDE, under Inter American Development Bank. The Federation represents some 350 NDFIs from four corners of the globe. It excludes EU. However, it must be noted that when the federation was formed some 34 yrs ago, KfW of Germany was among the signatories that founded the WFDFI. Today, Karlsruhe based European Organization for Sustainable Development is cooperating with WFDFI in the organization of this event. In other words the German connection is being sustained.

    Now, coming to the substance of the conference let me begin with the famous adage that there are two certainties in life, they are the death and the taxes. Now we can add a third: the global financial crisis. As we are all aware global financial crisis have now become a second nature to us. Before one ends, another begins. Just as the pieces were being picked up , recovery was blown off course by European solvency crises. The IMF Director Madam Lagarde summarized the situation as “We have avoided the collapse in 2012, we should guard against the relapse in 2013 and now is certainly not the time to relax, No collapse, no relapse, no relax. And that’s exactly what 2013 is about”. Global financial crisis is certainly one of the challenges facing the development finance. Should the international financial system be redesigned? – Is therapy enough or should we go for a complete overhaul? Do we need more regulations on the banks? What are the restructuring requirements? I believe these are some of the issues that will be addressed by the talented speakers in the conference.

    Another major crisis is the environmental crisis: our planet is warming rapidly with unknown and probable dire consequences down the line. Climate change is considered by some to be one of the greatest challenges of our times. Higher temperatures, rising sea levels, extreme weather conditions have far reaching impact on output and productivity as well as human and material losses suffered through disasters such as floods and hurricanes. In the past two years several global conferences and meetings were organized to tackle problems on a global scale.

    Already investments that make energy generation less polluting and investments that reduce energy consumption are underway. They should be more widely spread to regions beyond North America, Europe and Asia which, together, account for nearly all green the investments. Again, a lot of emphasis is being placed on this critical issue in this conference and I am confident that the talented speakers will inform us on the most recent developments.

    The conference will also be covering remedies for the alleviation of poverty through financial inclusion modalities like SME finance and MF as well as new finance instruments like ?slamic finance. Poverty has been the number one development agenda in many countries. A recent study we have made at ADFIMI revealed that the Gini coefficient for the world have improved somewhat between the years 1993 and 2011. Four sets of WB data was used to calculate world Gini coefficient for the years 1993, 2000,2004 and 2011. While the first three were all around 80%, 2011 figure improved by 8 units and was 72%. While this is certainly a move in the right direction, we should remember that it still means that there are still some 765 million people living under USD 1 per day and 2.22 billion people living under USD 2 per day.

    Non of these major challenges, even if they are distinct, they feed off each other in an intricate interplay. They can not be addressed in isolation. The organizers have displayed their concurrence by dealing with all of these issues in a well balanced manner.

    I would like to congratulate and thank the organizers for a well prepared conference, the contributors for sparing their valuable times and the participants for their very presence.

    I sincerely wish every one a successful conference.

    Thank you.

    Nuri Birtek
    Secretary General

    Click here for List of Participants
    Click here for Tentative Agenda
    Click here for the Message of the Lord Mayor

    Click for presentations:
          Day 1
                Prof. Dr. Henry Schäfer:
                Climate Change – Risks and Opportunities for the Financial Institutions

                Dr. Karsten Stroborn: (Dr. Karsten Stoborn has replaced Mr. Henner Ashe)
                Recent Changes in Financial Markets

                Dr. Irena Vodenska:
                Effects of European Sovereign Dept Crisis on Global Financial Markets

                Prof.Dr. Christian Kreiss:
                Inequality, Bubbles and Crashes – Re-Thinking the Financial System.

                Bongani Khumalo:
                Financing Sustainable Development in South Africa

                Namita Vikas:
                Best Practices in Embedding Sustainability in Financial Institutions

          Day 2
                Datuk Abdul Rahim Hassan:
                SME Finance for Sustainable Development – An Example from TEKUN Nasional Malaysia

                Azaddin Ngah Tasir:
                Sustainable Banking channel – BSN Agent Banking

                Dr. Patricia Richter:
                Social Impact of Micro Finance

                Prof. Dr. Savas Alpay:
                Financial Systems and Sustainable Development

                Dr. Jean-Jaques Dethier:
                Financing Sustainable Urban Development ; Challenges and opportunities for Financial Services Sector – 1
                Financing Sustainable Urban Development ; Challenges and opportunities for Financial Services Sector – 2

                Dr.Mahmoud Sami Nabi:
                Role of Islamic Finance in Promoting Inclusive Economic Development

                Dr. Fatemi Ali:
                Sustainability and Finance: A New Paradigm

  8. World Bank, WFDFI release global research on DBs

    The Financial Systems Practice, Financial and Private Sector Development Vice Presidency of the World Bank has released on February 2012, in cooperation with the World Federation of Development Financing Institutions (WFDFI), its policy research working paper 5969 on the “Global Survey of Development Banks”. Authored by Messrs. José de Luna-Martínez and Carlos Leonardo Vicente, Senior Financial Economist and Financial Sector Specialist at the Financial and Private Sector Development Vice Presidency of the World Bank Group, respectively, and produced by the Research Support Team, the study examines how development banks (DBs) operate, what their policy mandates are, what financial services they offer, which type of clients

    they target, how they are regulated and supervised, what business models they have adopted, what governance framework they have, and what challenges they face. It also examines the countercyclical role played by development banks during the recent financial crisis. The survey was based on new data that have been collected from 90 national development banks in 61 countries.

    Of late, the World Bank has received an increasing number of requests for data and new studies about DBs, motivated by ongoing efforts in various countries to strengthen their own DBs by insulating them from undue political interference, transforming them into more profitable and financially self-sustainable organizations, and adopting innovative governance arrangements. In response to this demand, the World Bank and the WFDFI launched a survey to analyze the features and challenges faced by existing DBs, particularly those in low- and middle-income countries. The survey contained 72 questions grouped into seven specific areas: size, funding, business models and products, profitability and asset quality, corporate governance, regulation and supervision, and challenges. The survey was conducted between January and June 2011 with the members of the WFDFI, i.e., the regional associations of development banks in Africa, Asia, Latin America and the Middle East, as well as from Europe.

    For a copy of the report, please click this link: http://www-wds.worldbank.org/external/default/WDSContentServer/IW3P/IB/2012/02/15/000158349_20120215153214/Rendered/PDF/WPS5969.pdf

  9. WFDFI issues “The Karlsruhe Declaration”, a message to Rio+20

    The World Federation of Development Financing Institutions (WFDFI), on the occasion of its 1st Global Sustainable Finance Conference held on September 8-9, 2011 in Karlsruhe, Germany and attended by 58 participants from 25 countries in 5 continents, has drafted and issued “The Karlsruhe Declaration”, a set of statements enjoining development banks and other financial institutions, development organizations, government bodies, the academe and civil society to do their respective share in the pursuit of sustainable development.

    Specifically, the world development bank association sends a message to the Rio+20 that it will continue to use, through its member-institutions, their finance and investment resources and skills as levers to promote and pursue sustainable finances policies, practices and programs to alleviate the effects of climate change and other environmental and social problems besetting the world today.

    The Rio+20 or the United Nations Conference on Sustainable Development (UNCSD) http://www.uncsd2012.org/rio20/ will take place in Brazil on June 4-6, 2012 to mark the 20th anniversary of the 1992 United Nations Conference on Environment and Development (UNCED) held in Rio de Janeiro and the 10th anniversary of the 2002 World Summit on Sustainable Development (WSSD) in Johannesburg. It is envisaged as a conference at the highest possible level, including heads of state and government and other representatives.

    Please refer to the “The Karlsruhe Declaration” below.

    September 09, 2011

    (Drafted by the delegates attending the 1st Global Sustainable Finance Conference held on September 8-9, 2011 in Karlsruhe, Germany under the auspices of the World Federation of Development Financing Institutions (WFDFI) composed of regional associations in Africa (AADFI), Asia-Pacific (ADFIAP), Latin America and the Caribbean (ALIDE) and the Middle East (ADFIMI). The event, organized by ADFIAP and ETECH Germany, was also an occasion to launch the Global Sustainable Finance Network (GSFN), a voluntary membership global initiative that brings together financial institutions and other stakeholders committed to the advancement of sustainable finance).

    Recognizing that finance and investment are an essential resource in advancing sustainable development do hereby:

    • Acknowledge that economic activity at current levels consumes more of the Earth’s living and non-living resources than it can sustainably re-generate;

    • Note that the momentum towards a green development and growth paradigm, of which “green economy” is an integral part, is essentially driven by a profound shift in public opinion which has generated a positive response from policy makers, development institutions, financial institutions, civil society, and industry;

    • Stress that Rio+20 is a major milestone on the road to sustainable development and a unique opportunity to achieve agreement on significant innovations to ensuring economically, socially and environmentally sustainable development;

    • Applaud the substantial progress made in the years since the first Rio conference to further the social and economic dimensions in context of UNDP’s HDR/HDI and the World Bank’s World Development Report;

    • Underscore the urgent need for Rio+20 to prioritize the environmental dimension of sustainable development;

    • Agree that the further development of existing indexes to more fully incorporate environmental concerns merits particular attention;

    • Recognize the important contribution to the methodological agenda made by the Report of the Commission on the Measurement of Economic Performance and Social Progress (2010);

    • Acknowledge that integrating the economic value of ecosystems into national income accounts is key to achieving sustainable development, including a commitment at Rio+20 to implementing this by 2030;

    • Support, therefore, accelerated development of standards, methodologies, and tools for the “greening” of national accounts (ref. WAVES and TEEB), including an agreement on a concrete road map for achieving this at Rio+20;

    • In particular, call for enhanced efforts to overcome statistical and measurement challenges, which may facilitate the incorporation of the environmental dimension into the Human Development Index of the HDR.

    • Encourage the development of measures to enable stakeholders, including financial institutions, to effectively and efficiently manage the risks of sustainability.