Since the launch of the Joint Finance Summit (FICs), the world's public development banks have met face-to-face and on African soil, in Abidjan for the first time, & nbsp; from 18 to 20 October.

Deepening their response to the very strategic challenge of climate finance, was the objective of the first face-to-face meeting on African soil of the public banks of development of the world. Indeed, 522 public development banks (BDP) in Europe, Africa, Asia, America and the Pacific have strengthened their role in climate finance, especially in the area of adaptation, with more than $23.7 billion in assets and $2.7 trillion in new financing in 2022, representing 12% of global investments.

This third edition of the Joint Finance Summit (FICs) was under the theme “a green and just transition for a sustainable recovery” which at the same time constitutes the main reason for their coming together. It was co-organized by the African Development Bank (ADB) and the European Investment Bank (EIB) and took the form of a plea for reshaping the global financial architecture to effectively respond to the climate emergency, in countries in development including those in Africa.

For Akinwumi Adesina, president of the ADB, “The challenge of climate change poses existential risks to our shared world and to our goals for a better world. [...] Much remains to be done to close the climate finance gap.” For his part Werner Hoyer, President of the EIB, asked: “We need to pool our resources in order to be able to face current challenges.”