The Amazonia Finance Network (AFN), announced at COP 28 by the IDB Group and the International Finance Corporation (IFC), a World Bank member, is an alliance that aims to increase investment flows, mobilize capital, promote financial inclusion, share knowledge on innovative financial solutions, and generate synergies with the public sector, to achieve sustainable impact across the Amazon region.

Recently the AFN has announced that will add 23 new members to reach a total of 47 financial institutions. The new members represent several regions: Aqua Capital, Banco Fie, Banco Internacional S.A., Bemol, Caja Los Andes, Ceape, Ciderural, Citi, COOPAC KORI, Compartamos, Cresol, DAI Capital, Finance in Motion, Hakrinbank, Impact Earth ABV, KPTL, Microvest Capital Management, Mov Investimentos, Omni, Patria Investments, StoneCo, Visa and Visionamos.

In a meeting held during the “IDB Invest Sustainability Week”, AFN members assessed and selected innovative pilot projects that address solutions in financial inclusion, small and medium-sized enterprises, agribusiness and forestry, carbon financing, innovative finance and product design, outreach and partnerships, and public-private partnerships.