Representing two-thirds of formal financing to agriculture, Public Development Banks (PDBs) investing in agriculture around the world can play a key role in transforming food systems that are currently unsustainable and leave millions hungry, said Alvaro Lario, President of the UN’s International Fund for Agricultural Development (IFAD), as he heads to the Finance in Common Summit taking place between 26 and 28 February in Cape Town, South Africa.

“PDBs’ financial heft – up to US$1.4 trillion of annual investments – is more than the micro-finance sector or all official development assistance,” said Lario. “They are the backbone of the global financial architecture and efforts to make food systems more sustainable, resilient and equitable.”  

PDBs have a significant financial power. The world’s 522 PDBs hold US$23.2 trillion in assets and account for 10-12 per cent of global financing.