Javier Díaz Fajardo, President of Bancóldex, was appointed as co-chair of the International Development Finance Club (IDFC) 

• Bancóldex and the West African Development Bank (BOAD) assumed co-chairmanship of the IDFC for a two-year term. 
•  The IDFC brings together 26 national and regional development financial institutions from around the world. 

Bogotá, October 17, 2023. During the annual meeting of the International Development Finance Club (IDFC) held on October 15 in Marrakech, Morocco, Javier Díaz Fajardo, President of Bancóldex, and Serge Ekue, President of the West African Development Bank (BOAD), were appointed as co-chairs of the Club for a two-year period. 

The co-chairmanship of IDFC will be carried out from their respective positions (President of Bancóldex and President of BOAD) and will be supported by the technical secretariat presided  by the French Development Agency (AFD) in Paris, France. 

During the Club's meeting, the IDFC's Work Program and its contributions to the achievement of the Sustainable Development Goals (SDGs), the Paris Agreement, and the Convention on Biological Diversity were reviewed. Additionally, the Board of Directors was re-elected, adding BOAD as a new member. 

IDFC recognized the role of Bancóldex and BOAD as leaders in Latin America and Africa, respectively, and their role as facilitators in aligning the agenda of Public Development Banks (PDBs) with the fulfillment of the 2030 Agenda by designing and implementing financially sustainable projects. 

"We believe that sharing common challenges, ambitions, and objectives enables us to address global issues with local solutions from a development banking perspective. Bringing new perspectives to the co-chairmanship of the IDFC will make it more relevant for future generations and the fulfillment of international development commitments," said Javier Díaz Fajardo, President of Bancóldex. 

Established in 2011, the IDFC comprises 26 national and regional development financial institutions from around the world, with Bancóldex being a member since its creation. 

To date, IDFC members are the largest providers of public financing for global development and climate. In 2022, the Club's financial institutions mobilized a record $288 billion in total commitments for green financing. Since the Paris Agreement in 2015, the total commitments for green financing from its members have exceeded $1.5 trillion. Additionally, mitigation financing reached its highest level to date at $245 billion, and financing for climate change adaptation also reached a historic record of $31.6 billion.