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DEVELOPMENT FINANCING CONFERENCE COMMUNIQUÉ
(Agreed to by the attendees to the conference organized by French Agency for Development, Institute of New Structural Economics at Peking University,and Research Institute of China Development Bank held at Peking University, in Beijing, China on May 28, 2019)
WHEREAS this conference has brought together stakeholders from government agencies, international organizations, financial institutions, academia, think thanks, non-government organizations, and private sectors in the field of development financing to foster open dialogue on the role of development finance institutions (DFIs) in promoting economic structural transformation in an equitable and sustainable manner, supporting sustainable development, fostering green finance in alignment with The Paris Agreement, and underlining respective roles in the development finance ecosystem as well as challenges, do hereby declare the following statements:
Statement No. 1
Enabling DFIs to Play a Critical Role
RECOGNIZING that DFIs are government-supported financial institutions with explicit official missions to promote public policy objectives by employing market mechanism and that DFIs, in the wake of the recent global financial crisis in 2008, have played crucial roles in addressing defects in capital markets, providing public goods, conducting countercyclical regulation, enhancing structural transformation, and bridging infrastructure financing gaps, both developed and developing countries alike should promote and pay close attention to development financing to meet economic, social, and environmental development challenges.
Statement No. 2
Conducting for the In-depth DFI Research
REALIZING that in sharp contrast with the worldwide DFI renaissance, there is limited research examining their roles, operations, and effectiveness. The latest research findings and the new database by co-organizers, as well as the analytical frameworks and perspectives developed and presented by eminent researchers and institutions represented in the conference today have greatly contributed to the research on the theory and practice of development financing, government agencies, international organizations, financial institutions, academic think tanks, and all relative stakeholders should cooperate in joint development financing research.
Statement No. 3
A Call for Setting up a Network of Open Working Groups for DFI Studies
UNDERSTANDING the above premises, in order to consolidate research on the theory and application of development financing, fulfill the full potential of DFIs, and contribute to the implementation of the SDGs, we are proposing to launch a network of thematically-focused open working groups gathering policy makers, academia, and practitioners, in an effort to make better institutional design and fulfill their mandates through collaboration.
(Endorsed by French Agency for Development, Institute of New Structural Economics at Peking University, the Research Institute of China Development Bank, and other organizations)