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The Future of National Development Banks

September 15, 2016

National Bank for Economic and Social Development (BNDES)   Rio de Janeiro, Brazil

Agenda  213kb pdf
Meeting Report  821kb pdf
Image for The Future of National Development Banks

Research partnership between BNDES/CAF/IPD on the national development banks of Brazil, Peru, Chile, Colombia, Mexico, Germany and China.

The project will focus on second tier national development banks –that is those that lend through other financial intermediaries, and not directly; it also includes cases of public sector banks active in project financing for development purposes (in infrastructure), but not public sector commercial banks.


    Rio de Janeiro, Brazil
  • CAF
    Lima, Peru

There is renewed support for development banks, in the wake of the 2007/09 North-Atlantic financial crisis, as the limitations and problems of a purely private financial sector have become more evident to different strands of economic thinking. It became obvious after 2007/09 that the private financial system on its’ own cannot perform well to support the real economy. It has been pro-cyclical, over-lending in boom times, and rationing credit during and after crises, limiting working capital and, especially, long-term finance crucial for investment. In both tranquil, but more in turbulent times, it has not funded sufficiently long-term investment in innovation and skills which businesses need to grow and create jobs; key sectors like infrastructure, renewable energy and energy efficiency have been insufficiently funded. Small and medium enterprises get insufficient credit, which is often costly and short-term.

BNDES Partnership


BNDES Rio de Janeiro, September 2016
BNDES Rio de Janeiro, September 2016
The Future of National Development Banks - First Workshop, September 2016
Left to right: Paola Arias (SIPA, Columbia University), Lavinia Barros de Castro (BNDES), Stephany Griffith-Jones (IPD), Laila Staudinger (IPD Staff)
Rogerio Studart (Brookings Institution)
Peter Volberding (Harvard University) & Qiyuan Xu (CASS)
  • José Antonio Ocampo
    Task Force Chair
    Professor of Professional Practice at Columbia University and former Minister of Finance of Colombia
    Columbia University
  • Stephany Griffith-Jones
    Task Force Chair
    Financial Markets Program Director
    Initiative for Policy Dialogue (IPD)
  • Pablo Sanguinetti
    Task Force Member
    Chief Economist
  • Vinicius Carrasco
  • Lavinia Barros
  • Rogerio Studart
    Alternate Executive Director
    World Bank Group
  • Juan Carlos Moreno-Brid
    Faculty of Economics
    National Autonomous University of Mexico
  • Paola Arias Gomez
    SIPA, Columbia University
  • Peter Volberding
  • Qiyuan Xu
    Director of Economic Development
  • Alfredo Schclarek
    Assistant Professor
    Universidad Nacional Cordoba
  • Felipe Rezende
    Hobart and William Smith College
  • Alejandro Gumucio
  • Laila Staudinger
    IPD Staff
  • Bruno Pantaleao
    Columbia Global Centers - Rio
All Files (9) zip
The Future of National Development Banks

3.37mb pdf
José Antonio Ocampo,
Stephany Griffith-Jones,
Alfredo Schclarek,
Felipe Rezende

Brazil Needs Transformational Investments: Is BNDES Ready?

1.85mb pdf
Rogerio Studart

Mexico's Modernization of Development Banks: NAFINSA's Lights and Shadows

1.36mb pdf
Juan Carlos Moreno-Brid,
Esteban Perez Caldentey

The Role of National Development Banks: The Case of Chile's CORFO

383kb pdf
Stephany Griffith-Jones,
Maria Luz Martinez Sola

The Colombian Development Banks

2.77mb pdf
José Antonio Ocampo,
Paola Arias Gomez

CDB: Born Bankrupt, Born Shaper

1.41mb pdf
Qiyuan Xu

National Promotional Banks as Active Financiers: The Case of KFW

284kb pdf
Peter Volberding,
Ulf Moslener

The Countercyclical Role of National Development Banks

722kb pdf
Alfredo Schclarek,
Michael Brei

The Role of Public Banks in Long-term Funding

1.30mb pdf
Felipe Rezende