As food systems provide a variety of public and private goods, Public Development Banks (PDBs) – with their unique mandates, counter-cyclical roles, and substantial financing – have a special role to play in the financial ecosystem and food economies, and can help channel finance and bridge and bring together different players for SDG- and Paris Agreement-aligned objectives. This role was recognized at the Finance in Common Summit in 2020, where a group of agricultural banks convened and submitted a joint statement that underlined how PDBs can enable a critical shift to more sustainable, inclusive food systems.

As the Food Systems Summit takes shape over the course of 2021, a dedicated discussion on the role of PDBs in effecting food systems transformation can help accelerate action and bring forward new and innovative partnerships. This event will bring together a range of stakeholders for such a dialogue. Its objectives are to:

1. Recognise challenges that prevent PDBs from maximising their ability to deliver on food systems transformation.
2. Identify game-changing, transformational solutions for action by PDBs and what needs to be done to make them happen.
3. Provide actors with inputs to take back to capitals in preparation for the Food Systems Pre-Summit and Summit.

The event will be hosted by the International Fund for Agricultural Development (IFAD) and the Finance in Common Working Group on Financing Sustainable Food Systems. It will bring together PDBs, private sector partners, international organizations, and relevant national and regional actors.

The main outcomes of the event will be the identification of potential game-changers to mobilize action ahead of the Food Systems pre-Summit in summer 2021 and Food Systems Summit in September 2021.