About PDBs

Public Development Banks (PDBs) are enjoying a resurgence. The global financial and economic crisis has stimulated new interest in PDBs, particularly given the important role they play in providing counter-cyclical financing when private capital is in short supply. In recent years, several countries have established new national and multilateral PDBs, and at the global level that have been recognized for the role they play in the United Nations Financing for Development process.   

Finance for Development includes public and private resources, spent by governments, businesses, and households, among others. It involves funds generated within countries, such as taxation, as well as finance provided by one country to support another in reaching its development goals, such as grants and low-cost loans.

The 2023 Financing for Sustainable Development Report finds that SDG financing needs are growing, but development financing is not keeping pace. The war in Ukraine, sharp increases in food and energy prices, and rapidly tightening financial conditions have increased hunger and poverty and reversed progress on the SDGs. If left unaddressed, a “great finance divide” will translate into a lasting sustainable development divide. 

We must come together to inspire, enable, and mobilize civil society organisations to deepen their understanding and participation in strengthening the dialogue between civil society organisations and public development banks and work together in a movement for an open and improved enabling environment for the operations of civil society organisations.

Confident that when we come together, we can keep the momentum going to create a strong partnership between civil society organisations and public development banks in line with local and international best practices, there is therefore the need to setup a Working Group to ensure effective cooperation, coordination and information sharing to the extent possible among all levels of appropriate authorities or organisations that are interested in protecting civic space.

The Nigeria Network of NGOs with the support of Forus International is therefore convening a financing for development working group for Nigerian CSOs interested in engaging in the “Finance in Common” process to strengthen CSO/PDB dialogue and promote more people centered and rights-based approaches in financing for sustainable development.