In early November, 2020, the Institute of New Structural Economics at Peking University (INSE) and Agence française de développement (AFD) jointly held the International Research Initiative of Development Financing Institutions (DFI) Working Groups Final Review Workshop and Policy Dialogue, which brought together leading researchers and practitioners from around the world to present and review the pivoting research projects on Development Financing Institutions (DFIs) and Public Development Banks (PDBs).

From November 3rd to 5th, 2020, core researchers of the International Research Initiative of Development Financing Institutions (DFI) Working Groups reported 14 papers which covers research topics including: the alignment of public development banks (PDBs) with 2030 Agenda, appropriate financial regulatory framework, business models, governance of PDBs and DFIs, and the inclusion of PDBs and DFIs in the global development finance architecture. Authors of the 14 presented papers introduced the objective, method, main findings and policy implications of their research and engaged in in-depth discussion with peer reviewers. At the last session of the workshop, Dr. Jiajun Xu, Executive Deputy Dean of INSE, launched the Second NSE Development Financing Research Report titled “Funding Sources of National Development Banks”

(https://www.nse.pku.edu.cn/docs/20201105164251956962.pdf)  .

Following the three-day academic workshop, INSE and AFD also co-organized a policy-oriented Open Discussion on November 9-10. A dozen of leading scholars and experts including the Nobel Laureate Joseph Stiglitz addressed the conference. Professor Stiglitz pointed out that development financing institutions are “a critical bridge” for fixing market failures, providing patient capital, and achieving equitable and sustainable structural transformation. Dr. Jiajun Xu introduced the first global database (https://www.nse.pku.edu.cn/docs/20201111104426528779.pdf) on PDBs and DFIs generated by INSE and AFD. Mr. Régis Marodon, Special Adviser on Sustainable Finance AFD, introduced the visualization website of the database (https://financeincommon.org/pdb-database).

The Academic Workshop and Open Discussion presented as the very first global summit on development finance - the Finance in Common Summit - under the umbrella of Paris Peace Forum. With theme of “The Visible Hand: Development Banks in transition”, the academic workshop and policy dialogue will greatly promote the impacts of researches on development financing conducted by the International Research Initiative of DFI Working Groups.

The International Research Initiative of DFI Working Groups was launched in 2019 by the Institute of New Structural Economics at Peking University (INSE) under the auspices of AFD, Ford Foundation and International Development Finance Club (IDFC) and with support from the Global Development Policy Center at Boston University. With the support from wide-ranging stakeholders, the Initiative aims to foster academically rigorous research on development financing and engage in policy dialogue to make concrete, feasible policy recommendations to unleash the full potential of DFIs in facilitating equitable and sustainable economic structural transformation and achieving the Sustainable Development Goals.