Uganda Development Bank to co-host talks on green financingOjangole said the event will spotlight Uganda’s own efforts and that of UDBL to invest in the best knowledge available on financing a sustainable and resilient economy.
This week Uganda is hosting over 400 delegates from 45 countries who will explore new approaches, pragmatic solutions, and collective actions to mobilize capital and finance the transition to a zero-carbon, green, inclusive and sustainable economy.
Against a backdrop of increasing global warming and the negative impact of climate change, development financiers are facing up to the challenge of supporting growth without destroying the environment.
The Ministry of Finance, Planning and Economic Development and the Uganda Development Bank Limited (UDBL) are set to co-host the event. UDBL is the country’s leading Development Finance Institution and fully owned by the government. The two-day meeting organized under the World Development Finance Forum (WDFF) is scheduled to take place on December 2nd and 3rd, 2021.
Patricia Ojangole the UDBL managing director said, “We are honoured to co-host the second WDFF in Kampala, in which ground-breaking solutions for financing sustainable development will be unveiled. The event will also spotlight Uganda’s own efforts and that of UDB to invest in the best knowledge available on financing a sustainable and resilient economy. It will also demonstrate to the world what is possible when governments and financing institutions enact smart and ethical policies towards building a sustainable future.”
This is the second convening of the WDFF and marks the second time that UDBL and the government are hosting the event. In the inaugural event held in 2020, delegates passed a resolution calling for action to enhance and protect global and national sustainability and development goals through collective strategies.
These include the expansion of domestic resource mobilization and pooling of international financial resources, strengthening the role of national development finance organizations like UDBL, Central Banks and other non-financial institutions and coordinating these efforts towards tangible goals.
UDBL, in a statement said WDFF 2021 will focus on four objectives. These include ‘Unveiling Financing 4.0’, an effort to revolutionize the mobilization and deployment of capital at a mass scale. Another feature will be on the ‘Reshaping Industry for a Sustainable Economy’ and focus is on enabling countries to benefit from the unfolding Fourth Industrial Revolution (4IR) and use latest engineering and technology to advance national development, protect the environment and combat climate change.
The other two objectives are about sustainability standards for value driven financial sector players which will showcase how sustainability driven financial institutions are changing their economies. The forum will end with recognition of various sustainability leaders for their contribution towards a better world for all.
The WDFF is jointly organized by the Association of Development Finance Institutions in Asia and the Pacific (ADFIAP), Association of National Development Finance Institutions in Member Countries of the Islamic Development Bank (ADFIMI), Association of African Development Finance Institutions (AADFI), European Organisation for Sustainable Development, as well as the Government of Uganda and UDBL