WASHINGTON, USA – The Amazonia Finance Network (AFN) is pleased to announce the addition of DEG as its newest member, making it the 48th member of the network. DEG, a prominent development finance institution and a subsidiary of the German KfW Group, plays a key role in promoting sustainable development and strengthening the private sector in developing countries and emerging markets.
The alliance reinforces the organizations’ commitment to responsible economic growth and the promotion of opportunities in strategic regions, such as the Amazon.
DEG is the first development finance institution (DFI), beyond the sponsors IDB Invest and IFC, to join the network. This represents an important milestone toward strengthening the ecosystem by fostering closer ties between various actors with the shared commitment of promoting sustainable development in the Amazon region.
The Amazon Financial Network was launched during the 2023 United Nations Climate Change Conference (COP28) as a joint initiative between IDB Invest, a member of the IDB Group, and the IFC, a member of the World Bank Group. The network, part of the IDB’s Amazon Forever Program, aims to increase investment flows, mobilize capital, promote financial inclusion, share knowledge on innovative financial solutions, and generate synergies with the public sector to achieve sustainable impact throughout the Amazon region.
