Finance in Common 2021
On October 19-20, over 500 public development banks gathered at the second edition of the Finance in Common (FIC) Summit. Co-organized by the Italian bank Cassa Depositi e Prestiti and the International Fund for Agricultural Development, this year’s Summit focused on the contribution of PDBs to the transformation of agriculture and agribusiness for food security, adaptation to climate change and biodiversity preservation.
Unfortunately, though, human rights and community-led development were not on the agenda. Those most impacted by the investments of development banks - local communities, farmers, fisherfolks, herders, women, Indigenous Peoples and human rights defenders - did not have the opportunity to raise their concerns at the Summit, despite extensive evidence of human rights abuses linked to development banks investments, especially in the food systems sector.
This comes as no surprise, as this year’s FIC follows in the footsteps of another high-level international forum that has been heavily criticized for excluding local communities' voices, despite being hypocritically branded as “people’s summit”: the United Nations Food Systems Summit (UNFSS).
Our members, partners and allies around the world have engaged in a powerful mobilization campaign around FIC, to call on development banks to stop funding projects or policies that harm people and the environment. Check out the resources below to find out more!
- "Development banks have no business financing agribusiness" - joint letter signed by over 280 civil society organizations and grassroots groups from 70 countries around the world
- "Public Development Banks Fail to Meet Commitments to Human Rights & Community-led Development" - Op-ed by Siddharth Akali
- "Development banks should end all public finance for industrial agriculture" - joint op-ed by Lorena Cotza (Coalition for human rights in development), ESCR-NET, GRAIN and FIAN
- "Transparency, Inclusiveness and Sustainability: 3 things Public Development Banks must not forget about at this year’s Finance in Common Summit." - joint press release by a group of CSOs, available in English, Spanish, French and Italian
- "The EIB’s problematic role in support of agribusiness" - blog by Clara Bourgin, Counter Balance
- "As the Second Annual Finance in Common Convenes to Discuss the Future of Agribusiness, Banks Must Confront a History of Environmental and Social Harm" - blog by Caitlin Daniel and Gregory Berry, Accountability Counsel
- "Can public development banks muster a 'movement'?" - article by Vince Chadwick, Devex
Around the world, public development banks are continuining to fund harmful development projects. Check out the case studies below and share these cards in solidarity with the local community and activists who are campaigning against these projects!