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. 

About IDB Invest 

IDB Invest, a member of the Inter-American Development Bank Group, is a multilateral development bank committed to promoting the economic development of its member countries in Latin America and the Caribbean through the private sector. IDB Invest finances sustainable companies and projects to achieve financial results and maximize economic, social, and environmental development in the region. With a portfolio of $21 billion in assets under management and 394 clients in 25 countries, IDB Invest provides innovative financial solutions and advisory services that meet the needs of its clients in a variety of industries.

About IDB Amazonia Forever Program

Amazonia Forever is an umbrella and holistic program that aims at protecting biodiversity and accelerate sustainable development in three lines of action: expanding

funding, boosting knowledge exchange, and facilitating regional coordination among the eight Amazonian countries. The program is based on five pillars: (i) Combating deforestation and strengthening environmental control and security in the context of national governments; (ii) Bioeconomy and creative economies, promoting alternative and sustainable economic activities; (iii) People, aiming at adequate access to quality education, healthcare, and employment; (iv) Sustainable cities and infrastructure and connectivity; and (v) Sustainable, low-carbon agriculture, livestock and forestry. In addition, the program focuses on promoting the inclusion of women, indigenous peoples, people of African descent and local communities; climate and forest conservation; and strengthening institutional capacities and the rule of law.

About IFC

IFC — a member of the World Bank Group — is the largest global development institution focused on the private sector in emerging markets. We work in more than 100 countries, using our capital, expertise, and influence to create markets and opportunities in developing countries. In fiscal year 2024, IFC committed a record $56 billion to private companies and financial institutions in developing countries, leveraging private sector solutions and mobilizing private capital to create a world free of poverty on a livable planet. For more information, visit www.ifc.org. 

About Amazonia Viva

Amazonia Viva is the World Bank Group’s initiative to strengthen efforts and collaboration to safeguard natural assets for a healthy forest biome, foster nature-smart and inclusive economic opportunities and improve living standards of its population. As a part of the World Bank Global Challenge Program on Forests for Development, Climate, and Biodiversity, Amazonia Viva will promote innovative solutions to deepen and broaden the support from the World Bank Group including the International Finance Corporation (IFC) and Multilateral Investment Guarantee Agency (MIGA).