The Berne Union and Finance in Common launch joint initiative to promote closer collaboration between export credit and development finance

Berne Union (BU) and Finance in Common (FiCS) announced their intention to take their cooperation a step further, with a view to increase the mutual understanding and explore the potential synergies between public development banks (PDBs) and export credit insurers (ECAs, private and multilaterals).

There exist significant financing gaps for sustainable development, which are an important target for both development and export credit institutions. The goal of this joint initiative is to contribute to closing these gaps by promoting improved understanding, coordination and collaboration among all public and private institutions involved in cross-border finance for trade and economic development, represented by the BU and FiCS membership. Our objectives are to:

1. Promote a better understanding of our respective membership, building on recent data (mandates, sectoral focus and financial instruments) and focusing on the complementarities and the overlaps of our activities
2. Conduct research to identify innovative financing structures and examples of projects which can provide practical templates and guidance for risk-sharing and collaboration
3. Establish stronger operational-level connections between PDBs and export credit institutions of the BU and FiCS membership
4. Develop a common positioning on our respective roles going forward, to help reorient financial flows towards sustainability

This joint collaboration was announced at margins of Berne Union’s Annual General Meeting in Hamburg, and could materialize through the following activities bringing together FiCS and Berne Union Secretariats:

1. A background document to capitalize on our respective knowledge and build a first common understanding of the differences, similarities and interlinkages between ECAs and PDBs
2. The establishment of an informal Working Group bringing together selected BU and FiCS members
3. The publication of joint in-depth research activity, including a Toolkit as a future deliverable, to better equip our membership and identify innovative practices which have the potential to boost cooperation
4. The organization of joint sessions during our annual events, i.e. Finance in Common Summit and Berne Union Annual General Meeting

For more information or to express an interest in contributing to those upcoming activities, please contact financeincommon@afd.fr or bu-sec@berneunion.org.