Development Bank of Southern Africa set to generate sustainable finance

ATRDevelopment Bank of Southern Africa (DBSA) has partnered with Invest Africa to generate sustainable finance solutions for the continent during the Africa Debate 2021

The forum, which will take place from 14-16 September, will see African business, policy and other industry leaders meet to discuss ways for the region to assert its priorities for a sustainable and transformative recovery as regional entities look to drive a return to global growth.

Mohan Vivekanandan, group executive for origination and coverage, DBSA, will lead a discussion with leading banks, regulators, capital markets investors and others to outline the effects of sustainable finance on growth generation in emerging markets. While green finance has made significant strides in western markets, it has been under-funded and thus under-utilised in developing countries and redressing this imbalance is essential both to global recovery efforts and to ensure a just transition.

The adaptation and mitigation measures needed to counter climate change demand large upfront capital investments, which invariably poses a challenge for developing countries. A concerted and collaborative global effort to build replicable and scalable sustainable finance is needed and there exists an imminent danger that regions with the greatest potential, including Africa, to leapfrog more developed markets in the transition to the green economy could be starved of capital.

Karen Taylor, CEO of Invest Africa, said, “The aim of The Africa Debate is to foster productive partnerships between the private and public sector as well as across borders and we look forward to taking part in the discussions led by the DBSA.”

The DBSA aims to pioneer a path to creating sustainable finance solutions adapted to African markets. The bank launched its first green bond with support from the French development finance institution, Agence Française de Développement (AFD) this year and also has a climate finance lending facility in partnership with the Green Climate Fund (GCF). The DBSA’s leading role in the Africa Debate is set to forge pathways for further strategic partnerships and collaborations between development finance institutions and global financial markets to scale the use of sustainable finance in African markets.

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