Johannesburg, 6 January 2025 - The Finance in Common Summit (FiCS), taking place in Cape Town from 26–28 February 2025, is poised to address one of the most critical challenges of our era: building resilient infrastructure to combat the devastating impacts of climate change. Public Development Banks (PDBs) and their global partners will gather to drive innovative solutions that ensure no region is left behind, with a particular focus on Africa and developing Asian nations.
These regions are among the hardest hit by climate change. Prolonged droughts, rising sea levels, and devastating floods are wreaking havoc on economies and communities, disrupting livelihoods and threatening food security. Yet, the financial resources required to adapt existing infrastructure are woefully insufficient. According to the United Nations Environment Programme, Africa alone requires up to $100 billion annually by 2030 for climate adaptation, while many Asian nations face similarly staggering funding gaps.
The absence of a cohesive climate finance framework to address the unique challenges of these regions has exacerbated their vulnerability. Without access to sustainable financing mechanisms, many countries are unable to fortify infrastructure against increasingly erratic weather patterns. FiCS 2025 provides an opportunity to change this narrative by fostering collaboration to create a financial architecture that responds to the specific needs of the Global South.
Building on the outcomes of COP29 in Baku, where leaders reaffirmed the urgent need for resilience-focused action, FiCS 2025 will transform commitments into practical strategies. Hosted by the Development Bank of Southern Africa (DBSA), the Asian Infrastructure Investment Bank (AIIB), and Agence Française de Développement (AFD), the summit will serve as a platform to advance infrastructure solutions that integrate climate resilience and sustainable development.
"In regions like Africa and developing Asia, the impact of climate change is magnified by the lack of resources to adapt," said DBSA CEO Boitumelo Mosako. "FiCS 2025 is an opportunity to reimagine climate finance as a tool for empowerment, fostering a unified approach to address climate damage and drive inclusive economic growth."
The summit will explore innovative financing models, including blended finance and green bonds, to unlock capital for climate-resilient projects. It will also delve into digital technologies and data-driven solutions that can enhance the adaptability of infrastructure. Collaborative governance frameworks will be central to discussions, ensuring that investments are sustainable and equitable.
Africa and Asia have already demonstrated the potential for transformative change through targeted initiatives. For instance, the Africa Adaptation Acceleration Program (AAAP) has mobilised $25 billion to support projects in water management, agriculture, and renewable energy. Similarly, climate finance projects in Southeast Asia have advanced coastal defences and renewable energy solutions. FiCS 2025 aims to amplify these successes by fostering partnerships that scale up impact.
The lack of a cohesive climate finance conversation has left vulnerable regions grappling with disparate solutions. FiCS 2025 seeks to bridge this gap by uniting stakeholders to design a financial architecture that addresses the systemic challenges of climate change. By focusing on collaboration, the summit can lay the groundwork for a more inclusive and resilient global economy.
Cape Town’s hosting of FiCS 2025 is a significant milestone. Against the backdrop of South Africa’s G20 presidency, the summit underscores the critical role of PDBs in shaping the future of climate finance. As custodians of development and sustainability, these banks are uniquely positioned to catalyse the systemic change required to mitigate climate risks and unlock new opportunities for growth.
In previous years, FiCS has facilitated projects that have transformed communities, including renewable energy advancements in Indonesia, sustainable agriculture in Kenya, and flood resilience in Brazil. These examples highlight the potential for collaboration to drive real-world impact, particularly in regions where climate vulnerability intersects with economic inequality.
FiCS 2025 will champion actionable solutions, emphasising that resilience is not just about survival but about creating pathways to thrive in a changing climate. By addressing the structural barriers to climate finance, the summit will empower nations to build back better, ensuring a secure and sustainable future for generations to come.
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About the Development Bank of Southern Africa
The Development Bank of Southern Africa (DBSA) is a leading Development Finance Institution (DFI), wholly owned by the government of South Africa. Established in 1983, the DBSA is mandated to promote economic growth and regional integration by mobilising financial and other resources from national and international private and public sectors for sustainable development projects and programmes in South Africa, SADC, and the wider African continent. www.dbsa.org