Financing digitalisation for inclusive and green growth
12.06.2023 09:00 UTC+2
Delivering on Global Gateway and the Sustainable Development GoalsThe Swedish Presidency of the Council of the EU, the Swedish International Development Cooperation Agency (Sida), and the D4D Hub, were pleased to organise the event ‘Financing digitalisation for inclusive and green growth: Delivering on Global Gateway and the SDGs’!
Given the importance of digital technologies for reaching the SDGs, the main purpose of this event was to discuss and explore innovative methods of mobilising funds and matching needs and accessing financing for a sustainable digital transformation.
Representatives from public and private sector, as well as financiers, were invited to present best practices in financing connectivity and the green & digital transition with a view to scale them up in a #TeamEurope framework.
You can now watch the recording of the event.
Stakeholders from both public and private sector, investors, innovators, civil society & academia, and youth representatives joined in-person and online.
In addition to our rich plenary session offer, the event featured ample opportunities for networking during coffee and lunch breaks, as well as a closed-door offering in the afternoon and early evening.
This session will set the stage of the event and frame key elements for meeting the challenge to scale up joint financing of digitalization efforts.
Opening remarks:
Johan Forssell, Minister for International Development Cooperation and Trade, Sweden (video message)
Jutta Urpalinen, Commissioner for International Partnerships, EU (video message)
Keynotes:
Koen Doens, Director-General, International Partnerships, European Commission
Carin Jämtin, Director-General, Swedish International Development Cooperation Agency, Sida
Maria Håkansson, CEO, Swedfund
The time is ripe for more and broader investments in digitalisation. In this opening panel, speakers from private sector and DFIs will discuss challenges and opportunities for digital investments today. Public, private, and blended capital are all key components of financing the human-centred digital transformation—but how do the investments reach their goal and desired impact?
- Opening keynote by Lacina Koné, CEO, Smart Africa
- Presentation of Background Paper on Financing Digital Transformation by Klaus Tilmes
Panel discussion:
- Caroline Le Meaux, Global Head of ESG Research, Engagement and Voting, Amundi
- Ana Valero, Regulatory & Policy Director, Telefonica Hispam
- Fazia Pusterla, Representative in Europe, Inter-American Development Bank
- Yanis Kuehn von Burgsdorff, Brussels Representative, UN-DESA
Moderator: Kudzai Mubaiwa, Board Treasurer for AfriLabs
Guiding questions:
- What does an enabling environment for inclusive & sustainable digital transformation look like?
- How can policy & regulation encourage more private sector investments in digital?
- How can public and private partners work together to enable financing (guarantees, blended finance)?
- What change do you want to drive in the next 3 years?
The global connectivity landscape is characterized by vast imbalances, commonly referred to as the digital divide. To achieve last mile connectivity, substantial investments in digital infrastructure are necessary, even in commercially unviable areas. This requires the development of a broader investor base, more robust financing tools, an enabling policy environment, and improved coordination systems. Innovative approaches to financing connectivity are crucial in bridging the gap and lead the way for safe and meaningful connectivity. This panel will look at financing methods, strategies and initiatives that have pushed the envelope to address market failures.
- Keynote by Akanksha Sharma, Head of Climate Tech and Digital Utilities, GSMA
Case presentations:
- Pascal Murasira, Managing Director East Africa, Norrsken Foundation
Khalid Ben Jalani, Senior Partner, AfricInvest
- Laure Blanchard-Brunac, Director Policy and Partnerships, European Development Finance Institutions (EDFI)
- Ibrahim Senyonga, General Manager, MTN Uganda
- Naomi De Groot Head of Communications and Partnerships for the East and Southern Africa Region, UNCDF
Panel discussion with case presenters and keynote speakers and Q&A with the audience
Moderator: Dr. Iffat Zafar Aga, Co-founder Sehat Kahani
Guiding questions:
- What are some of the successful business models that incentivise investment from different players?
- What are the partnership models you would recommend where the risks and benefits are shared?
- What change do you want to see (and drive) in the next 3 years?
Global Gateway strategy seeks to increase investment in secure and resilient digital infrastructures that are the backbones of the internet. This panel aims to learn from front runners in the sector who will share best practices from across the globe. The focus is on digital infrastructure investments with high social impacts and low environmental footprint, while upholding standards and principles of openness, security and digital sovereignty.
- Keynote by Mikael Bäck, Vice-President, Ericsson and Board Member, Digital Europe
- Keynote by Christian Eisner, Head of Regional Treasury & Structured Finance EMEA and Global Structured Finance Lead, Nokia
Case presentations:
- Jaakko Kangasniemi, CEO, Finnfund
- Benoit Denis, Senior Economist Digital Infrastructure - Projects Directorate, European Investment Bank
- Yonas Maru, Founder, Bandwidth and Cloud Services Group (BCS)
- Ana Chirita, Director, National Association of ICT Companies in Moldova
- Tanya Cox, Director, Concord
Panel discussion with case presenters and keynote speakers and Q&A with the audience
Moderator: Dr. Iffat Zafar Aga, Co-founder Sehat Kahani
Guiding questions:
- Which recent technological development or investments would you consider especially successful and how do we support smart investments in quality infrastructure, with high social impact and environmental standards?
- The EU strong emphasis on upholding democratic values and principles in the implementation of its Global Gateway plan. How do we create an investment ecosystem that will advance ongoing investments in digital infrastructure, industry and services, thereby supporting longer-term economic transformation in partner countries?
The standing lunch setup allows for ample networking opportunities between different stakeholders like investors, corporate and DFI representatives, public administrators, and more.
Artificial intelligence, data-guided renewable energy, satellite tech, autonomous drones—technology trends are advancing at lightspeed. But the “valley of death” between product development and profit is deep and stifles innovation in the digital & green thematic nexus. How can innovative financing scale the power of technology to tackle environmental and climate challenges?
- Keynote by Thomas Östros, Vice-President, European Investment Bank
Case presentations
- Michael Franz, Team Lead, GET.invest
- Anne Kästner, Sustainable Finance Specialist, SEB
- Aya Tarek Helmy, Co-Founder, BENAA Foundation
- Karin Edström, Investment Manager, Almi Invest GreenTech
Panel discussion with case presenters and keynote speakers and Q&A with the audience
Moderator: Kaoru Inoue-Belmans, Operations Manager, Africa-Europe Foundation
Guiding questions:
- How can financing support key innovators who address climate & environmental challenges on a local level?
- What are the biggest barriers in financing high-risk “green & digital” innovation and how can we overcome them?
- How can public-private partnerships mobilize and deliver the funds needed to adequately address the climate catastrophe?
This session will discover investment opportunities and needs in twin transition for large investors as well as smaller and medium sized investors. Investment opportunities related to different instruments, for example SDG-sovereign bonds and blended finance will be covered. Companies and NGOs will discuss what more is needed to un-leach investments for digitalization.
- Keynote by Tenke Zoltani, Senior Thematic Debt Advisor, UNDP
- Keynote by Paul Horrocks, Lead Manager Private Investment, OECD
Case presentations:
- Franziska Ehm, Global Head of Private Debt and Opportunities, Allianz
- Dave Okech, Founder & Chief Imagination Officer, Aquarech
- Maelis Carraro, Managing Partner, Catalyst Fund
- Samantha Ndiwalana, Senior Researcher, World Benchmarking Alliance
Panel discussion with case presenters and keynote speakers and Q&A with the audience
Moderator: David Van Dijk, Team Lead, EIB Boost Africa
Guiding questions:
- What are the possible routes, vehicles and instruments for financing twin transition and bridging the digital gap?
- What opportunities do SDG-sovereign bonds, SDG-corporate bonds, and blended finance represent?
- What is the sustainable impact that investors are looking for in twin transition and how can it be measured?
- What change and new incentives would actors like to see and drive within the next 3 years?
- How can companies’ digital sustainable impact be measured?
Following the case presentations and proposals for the way forward, we will once more reflect upon enabling and constraining factors for financing digitalisation as seen from various perspectives. How can we turn financing into meaningful change? How can twin transition and connectivity be implemented faster and fairer to reach the SDGs? How can international partnerships between Europe, Africa, LAC, and Asia-Pacific deliver on Global Gateway investments?
- Keynote by Brelotte Ba, Deputy CEO, COO MENA and Africa, Orange
Panel discussion:
- Lacina Koné, Director-General & CEO, Smart Africa
Franziska Ehm, Global Head of Private Debt and Opportunities, Allianz
- Akanksha Sharma, Head of Climate Tech and Digital Utilities, GSMA
- Carla Montesi, Director, Green Deal and Digital Agenda, DG INTPA, European Commission, Directorate-General for international Partnerships
- Carin Jämtin, Director-General, Swedish International Development Cooperation Agency, Sida
Moderator: Kudzai Mubaiwa, Board Treasurer, AfriLabs
Guiding questions:
- What are your main takeaways from today?
- What should be the next steps?
Closing Words
The session aims to discuss how to jointly increase financing for digitalisation. An open discussion among participants from organisations with the capacity to invest or de-risk investments. The discussion will be based on constraints and enablers presented throughout the day but also drawing on a recent paper commissioned specifically to provide an input for the session on possible ways forward. The paper draws on a focus group of European DFIs, interviews with private sector actors as well as government agencies.
Participants: Investors
Format: Open roundtable discussion of position papers in moderated discussion with the goal to announce continued process and new approaches
In the lead up to the EU-CELAC Summit that will take place in Brussels in July this year, this session will provide an opportunity to discuss private sector engagement opportunities in the EU-LAC digital investment agenda. The meeting will be chaired by Felix Fernández Shaw, Director for Latin America and the Caribbean at DG INTPA. We welcome the participation of companies actively present in the Latin American and Caribbean region.
Participants: Private sector companies active in the LAC region
Format: Moderated session
Key issues that were discussed
- Which are the mandates and roles of involved stakeholders in creating an enabling environment for mobilising sustainable financing for investments in digitalisation?
- Which are the enablers and constraints as seen from various stakeholder perspectives?
- What can be learned from cases where a favourable mix of instruments have been mutually supportive to mobilise sustainable financing for investments in digitalisation and development?
Format
The event took place in Brussels as a hybrid event with virtual participation possibilities. As a multi-stakeholder partnership event, strong emphasis was placed on physical participation of high-level policymakers and private sector representatives.
The public presentations focused on presentations of best-practice cases of financing for digital development (FFDD).