The 4th International Conference on Financing for Development Concludes Successfully

The 4th Conference on Financing for Development (FfD4) Side-Event, titled “Financing Food System Transformation: The Key Role of Public Development Banks, International Financial Institutions, and Partners for Accelerating Progress Towards the SDGs,” was held on 5 December 2024 at the UN Headquarters in New York. The event successfully brought together key stakeholders to explore innovative financing and partnerships to transform food systems and advance the SDGs.  

During the event, IFAD’s AVP, Federica Diamanti, stressed the importance of connecting governments, IFAD, and multinational banks with domestic banks to create millions of jobs globally for youth and address shared challenges. Gianluca Greco, Deputy Permanent Representative of Italy to the UN, emphasized the need for stronger political focus and coordination mechanisms to address food security, introducing a new initiative and coordination mechanism as examples. Lloyd C. Banda, CEO of MAIIC, Malawi, highlighted the importance of financing solutions, referencing concessional funding through the World Bank and the role of IFAD’s Agri-PDB Platform in fostering knowledge sharing, climate change adaptation, and funding mobilization, with the ABC MAP tool as a notable example. Juan Pablo Bustamante Caballero, Vice president of FINAGRO, Colombia, outlined their strategy to engage farmers in value chains, collaborate with first-tier banks, and develop monitoring systems to address environmental impacts and climate resilience. Enrico Petrocelli, Head of International Institutional Relations of CDP, Italy shared insights into global initiatives, such as the G7 coffee fund and partnerships with FAO, the EU, and IFAD, noting the Agri-PDB Platform’s complementary role of the G7 in scaling financing through local institutions. Ophelie Bourhis, AFD France’s representative in North America discussed financing value chains, agro-ecological transitions, and risk management, emphasizing educational programs for farmers and innovative tools for PDB collaboration. On behalf of UN Major Group for Children and Youth and FfD4 Youth Constituency, Daniel Helmer echoed the need for greater youth access, innovation drivers, and risk management, while the UN Economic and Social Affairs Secretariat suggested further dialogue on managing credit ratings and risks to better integrate PDB systems into international financial flows. 

The side event concluded by emphasizing the importance of collaboration and innovative financing mechanisms in transforming food systems, underscoring partnerships as vital to accelerating progress toward the SDGs. To access the recording, please click here.