Ketan Patel, Chairman Force for Good, talks to Faheen Allibhoy, Managing Director and head of the JP Morgan Development Finance Institution, as part of the 7th World Investment Forum on 18-22 Oct 2022, discussing the the creation of the first private sector DFI and the role of innovation in development finance.
On the vision and mission of the JP Morgan DFI: We are less than 10 years away from two very important global agenda that the world is coalescing around. One is the Paris climate accord. The second is the sustainable development goals. Many firms, including JP Morgan, are aligning around these goals and aiming to contribute to meeting the gaps, which private capital can play an amazing role in solving. JP Morgan has set out a sustainable finance and climate target of US$2.5 trillion over the next 10 years and the DFI is part of that vision.
On the growing importance of emerging markets: Emerging markets today already make up a big part of the global economy. However, so many citizens in emerging markets still don't have access to basic infrastructure, be it hard infrastructure, be it healthcare, be it education. COVID amplified how interconnected we are, how our supply chains work together, and the fact that working to improve the quality of lives of people all over the world, including the emerging markets, is important. So our mandate is focused on the 144 countries that are eligible to borrow from the World Bank, and aim to have a development impact in transactions.
On JP Morgan DFI’s role in addressing the Sustainable Development Goals: “we play a role in that continuum of finance in the emerging markets that help bridge the gap of the SDG, bringing the practice of impact and development to the sell side of the financial landscape”
See other interviews on the vision, strategy and implementation of sustainable capital at.