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1 tn in ‘green’ plans from public banks – CDP

(ANSA) – ROME, OCT 20 – (by Simona D’Alessio and Angelica
Folonari)
The Finance in Common Summit (FICS), hosted this year in Rome by
Italian public investment bank Cassa Depositi e Prestiti (CDP),
in partnership with the UN’s International Fund for Agricultural
Development (IFAD), ended with the encouraging prospect of an
ever ‘greener’ future for our planet, grappling with the damage
caused by pollution and climate change, thanks to the efforts of
the Public Development Banks (PDBs) who are “boosting their
resources” in the sector, “as is shown by the one trillion
dollars of investments in ‘green’ projects by the 26 PDBs that
are part of the International Development Finance Club (IDFC),
as well as pledges for further funding by 2025”.
   
On the second and last day of the summit, it was announced that
the FICS “will present in 2022 a report on the progress of its
activities to the G20 duty president, testifying to the crucial
role played by the global PDBs which are protagonists, at an
aggregate level, of over two trillion dollars of investments,
around 10% of total global investments, acting as a link between
public policies and the private sector”.
   
Boosting ‘green’ initiatives, aimed at the fairest possible
growth, there will be an ad hoc platform, set up with the
intention of succeeding in accelerating more inclusive financial
operations in the field of agriculture and in the activities of
transformation, packaging and transport of food.
   
“We are all too aware,” said European Economic Affairs
Commissioner Paolo Gentiloni in a video message, “that the
investments needed to achieve the ‘green’ transition are so big
that public funding alone won’t be enough.”
Private finance would be crucial, he specified, while Economy
Minister Daniele Franco said “the whole community of Public
Development Banks must be part of the collective effort towards
better and more resilient development”.
   
In his speech to the concluding session of the summit, CDP CEO
Dario Scannapieco, finally, stressed that public banks “can be
strategic allies in directing public and private investment
towards sustainability in an innovative way”. (ANSA).
   

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