Game-changing finance: solutions to meet the Covid crisis

Chair Judith Tyson  – Senior Research Fellow, International Economic Development Group, ODI Speakers Christopher Egerton-Warburton – Co-Chief Executive Officer, Lion's Head Global Partners Nick O’Donohoe – Chief Executive Officer, CDC Group Søren Peter Andreasen – General Manager, Association of European Development Finance Institutions (EDFI) Vera Songwe – Executive Secretary, UN Economic Commission for Africa Description The Covid-19 pandemic is having a crushing effect on private finance for development. This is resulting in a ‘doubling-down’ on the recessionary pressures in Africa and domestic banks experiencing a classic ‘credit crunch’. With international finance sharply reduced, these acute problems add to the existing barriers to mobilising private finance for development. Barriers include, a lack of bankable projects, a lack of management tools for political and macroeconomic risk and processes being mismatched to investor needs. We explore innovations in liquidity provision, infrastructure financing and climate investment. We examine what investment is needed to create a more resilient and sustainable private sector, the prospects for blended finance and co-financing strategies, and the impacts of the rise in foreign currency assets and debt restructuring. We draw from high-level leaders and their experiences of leading financial institutions, exploring key insights and lessons learnt. Our expert panel share forward-looking innovative solutions for middle-income and low-income countries, as well as approaches that can 'change the game’ on mobilising finance from a range of actors, including multilateral development banks, development and international finance institutions and the private sector.