The launch of the Amazon Financial Network (AFN) was recently announced at COP 28 by IDB Invest and the International Finance Corporation (IFC, member of the World Bank). AFN is an alliance that brings together financial institutions with the aim of increasing investment flows, mobilizing capital, promoting financial inclusion, sharing knowledge on innovative financial solutions, and generating synergies with the public sector.

The AFN is part of the IDB’s “Amazon Forever” program and will complement the group of public sector banks, the Green Coalition, to promote synergies between the public and private sectors. The Network is composed of 24 founding signatories from Bolivia, Brazil, Colombia, Ecuador, Guyana, Peru, Suriname, Spain, the United States and Switzerland

Moreover, AFN represents a milestone in the groundbreaking four-year partnership between IDB and IFC, combining their expertise to support countries that share the Amazon region in the transition towards net zero deforestation, helping people pursue better livelihoods while preserving the ecosystem, through innovative financial instruments.