The ‘30 by 30 Zero PH’ project team successfully launched the 2^nd cohort of the “Green Energy Finance Specialist Program” on 13 Oct, 2023, with 17 participants from 8 banks and 2 regulators. This is a 6-month virtual program with a 1 week in-person training in Berlin, aimed at equipping bankers with knowledge in project finance, specifically Renewable Energy and Energy Efficiency.

The Sustainability and Climate Finance Practice Group of FIG, Asia & the Pacific, hosted an online thought leadership paper launch, co-organized by the Alliance for Green Commercial Banks (the Alliance) and Crédit Agricole CIB (CACIB), on “Defining an Ambitious Climate Strategy of Green Banking: A Case Study” on 10 October 2023. The paper expounds a ‘five-step structure’ in which CACIB adopts to set up the governance in its transition towards green banking, as well as supports clients in their transition journey.

Oluwatoyin Omobolanle Alake, FIG Senior Operations Officer, spoke at the IFC-WWF Indonesia roundtable on “Climate Finance Opportunities and Climate Risk Management” in Indonesia on 27 September 2023. The round table explored business opportunities related to climate and sustainable finance. Various climate risk tools and case studies were introduced to over 30 participants, including leaders and senior executives from state-owned and private commercial banks, as well as non-banking financial institutions.

Rajesh Mehra, FIG Senior Operations Officer and Practice Lead - Supply Chain Finance, Trade & TB, moderated an online panel discussion on “Sustainability in Supply Chain Finance: Needs, Challenges, and Opportunities” on 21 October 2023. The topics included the needs for sustainability in SCF, challenges and opportunities in transforming supply chains to sustainable supply chains, and integrating ESG and green finance with SCF.

Middle East & Africa

Morocco's state-owned phosphate fertilizer producer OCP and the World Bank's International Finance Corporation (IFC) said on Tuesday they would together mobilize $800 million by 2030 to help finance companies that produce and distribute crops and food in Africa. - Read here

Latin America & Caribbean

In FY23, FIG’s Banking on Women business delivered a record US$859 million in annual financing to Women- SMEs, doubling its FY22 annual volume. IFC’s Banking on Women (BOW) business has invested and mobilized a cumulative US$4.29 billion in EM financial institutions (65% for IFC O/A), specifically to finance women-owned SMEs (W-SMEs) through 251 investment and advisory projects with 141 clients in 76 countries, since its launch in 2012.

Launched LAFISE SME Program in Dominican Republic and Costa Rica, where there are respectively USD 8 billion and USD 4 billion unmet demand for credit for SMEs.

IFC completed the signing of a Loan Agreement for a total of US$112.5 million to Banco Continental (“Continental” or the “Bank”), including US$62.5 million of mobilization, to support financing to SMEs and WSMEs. SMEs play a central role in the creation of dynamic, competitive and inclusive economies, and are important net job creators in emerging markets. Women are vastly underrepresented in SME ownership in Paraguay, accounting for only 18.9% of total SMEs, mainly due to their primary role as housekeepers and their work in the informal market. The loan to Continental will help improve access to credit for SMEs and, through a specific target on WSME lending, it will address the gender gap which is still a developmental challenge in Paraguay.

IFC recently invested $250 million in Bradesco Brazil to help increase access to finance for micro, small and medium-sized enterprises, with a focus on those operating in creative industries and in the North and Northeast regions of the country.

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