heads of G20 countries
institutions in the D20
format took place in Rome
on July 4, 2014.
The first meeting between heads of D20 countries financial development institutions hereinafter-D20 took place in Moscow on July 18, 2013 in the context of Russia’s presidency in the Group of Twenty (G20). (D20 is a working abbreviated name of this multilateral format for cooperation. The said format is not an official track of the Group of Twenty interaction and these meetings are not included in the official program of the Twenty). Vnesheconombank initiated this meeting, which was held with the support of the Russian Finance Ministry.
In the attendance of the meeting were heads of most G20 financial development institutions with the exception of Australia, Great Britain, Canada and the US where there are no government financial development institutions per se.
In the course of the first meeting, top priority was given to discussing such issues as increased role of financial development institutions in securing long-term investments, raising private long-term capital including through using mechanisms of public private partnership, overcoming barriers on the way of increased funding of long-term investments, deepening cooperation between national development banks as well as between them and international financial institutions.
As a result of the meeting its participants approved a joint statement reflecting their position on key issues of development institutions’ activity and raising long-term investments.
D20’s participants stated that the new platform of interaction between G20 countries financial development institutions was efficient and expressed their readiness to hold meetings of such format on a regular basis.