• Madrid, Spain · September 23-25, 2019

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Global Debt Mobilization Conference 2019

Agenda

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Monday, September 23

AfternoonGuest Registration

7:00 pm - 10:00 pmWelcome Event Sponsored by Cofides
(El Pelicano - Hotel Meliá Castilla)

Tuesday, September 24

Day 1 Theme: 
Milestone Achievements Since GDMC Inauguration, Current Challenges and Emerging Opportunities
Master of Ceremony: Ms. Sabrina Borlini, Director, Syndications Department, IFC

 

7:30 am - 8:30 amNetworking Coffee

 

8:30 am - 9:15 amOpening Remarks [Melia Castilla Auditorium]
Scene-setting video – news clips and intro of conference theme
Speakers

  • John Gandolfo, Vice President & Treasurer, IFC
  • Ana de la Cueva, Secretary of State, Spain

 

9:15 am - 10:00 amGlobal Outlook: Where Will Macroeconomic Trends Lead Us in 2020?
Presentation by Jean-Pierre Lacombe, Director, Global Macro & Market Research, IFC

  • How are growing populism in the West, slowing growth in Asia, and rising social instability affecting global capital flows and trends toward integration?
  • What’s likely to happen with U.S. monetary policy as the Federal Reserve achieves target levels?
  • What will be the lingering effects of Brexit on the European Union?
  • How will the growing debt burden affect African economies/industries across the continent as Africa continues its recovery from the 2014 commodity price slump? 

 

10:00 am - 10:30 amNetworking Coffee

 

10:30 am - 11:30 amChanging Landscape: Emerging Threats and Opportunities [In the News]
Panel discussion moderated by David Marsh, OMFIF

  • Landscape changes since GDMC 2017
  • Emerging risks and opportunities for EM investing and MDB efforts to develop local capital markets
  • Consideration of global political and economic issues of the moment; segue from Lacombe’s outlook to answering question of “What can we do about it?”

Speakers

  • Pascal Blanqué, Group CIO, Amundi Asset Management
  • Martin Scheck, CEO, ICMA
  • Mauricio Cardenas, Former Minister of Finance, Republic of Colombia 
  • Michal Ron, SACE, Head of International Business

 

11:30 am - 12:30 pmCreating Sustainable Investment Opportunities: Spurring Lasting Change  
Panel discussion moderated by Burhan Khadbai, Supranational Editor, GlobalCapital at Euromoney Institutional Investor

  • How are responsible practices and sustainability factors being embedded into global finance? [Relevant regimes include: Principles for Responsible Investment (investors); Principles for Responsible Banking (banks); and Network for Greening the Financial System (central banks & regulators)]
  • How are central banks and regulators raising their expectations on how banks, pension funds, insurers and capital markets more generally manage sustainability risks, most notably climate change? 
  • How can the private sector support the MDBs in financing the SDGs?
  • Regulatory changes and sustainable finance in the EU/UK: what will be the effect on non-EU markets? Should others follow suit?
  • How can companies develop sustainability strategies? How should companies report the resilience of their strategy under different climate scenarios?

Speakers:

  • Carsten Quitter, Chief Investment Officer, Allianz Global Investors
  • Sara Lovisolo, Group Sustainability Manager, London Stock Exchange Group
  • Leslie Maasdorp, Vice President and CFO, New Development Bank 
  • Sandra Carlisle, Head of Responsible Investment, HSBC Global Asset Management
  • Marie-Aimee Boury, Managing Director, Head of Impact Based Finance, Société Générale Corporate & Investment Banking

 

12:30 pm - 2:00 pmNetworking Lunch

 

1:00 pm - 1:450 pmLunch & Learn Opportunity (in “Castilla”)
Libra: Realizing the Vision of a Stable Global Cryptocurrency (Discussion with Sunita Parasuraman, Head of Treasury, Libra Association)

 

2:00 pm - 4:45 pmAFTERNOON BREAKOUT SESSIONS

Track 1:

Innovation and New Platforms for Emerging Market Mobilization

Track 2:

Impact, Sustainability and Emerging Market Mobilization

2:00-2:45pm: Breakout 1A. Market Development:  How Deeper Local Currency Debt Markets Can Close the Gap in FX Risk Mitigation

  • We have investors available (MCPP is a proven concept), but investors are unwilling to take FX risks. How can we respond to clients’ needs in local currency financing as we are scaling up in IDA countries where the clients’ needs are better served in local currency?
  • What are the opportunities and constraints from investing in local currency corporate bonds?
  • How to manage FX risks effectively in a local currency credit fund?
  • How can DFI contribute to addressing investors’ concerns about currency risks?
  • Are there instruments or vehicles that can be structured to bring more investors into taking local currency exposures in emerging markets?
  • What is needed to make local currency corporate bonds appeal to a wider group of investors?

Speakers:

  • Moderator: Valentina Antill, Citi
  • Amit Jain, Manager, Cash Management, IFC Treasury
  • Sudip Chatterjee, Head of Global Capital Markets, Euroclear
  • Ruurd Brouwer, CEO, TCX 
  • Aude Pacatte, Director, Head of Portfolio Management, EBRD

2:00-2:45pm: Breakout 2A. Generating new investment opportunities via upstream project development 

IFC’s new “Upstream” strategy seeks to shift the business model towards the incubation of new private investment opportunities in emerging market infrastructure, through market creation/sector transformation, project development, and replicable and scalable procurement programs; and harnessing the full range of World Bank Group products and services.

  • What is “upstream” all about? 
  • How is IFC doing it and what other models are out there? 
  • How is mobilization different when working “Upstream”? 
  • How can programmatic approaches such as the Nubian Suns program in Egypt and Seven Sisters Program in Jordan facilitate mobilization? 
  • How can upstream project development unlock new investment opportunities in emerging markets?

Speakers:

  • Moderator: Meaghan McGrath Beaumont, Global Head of Syndications, IFC
  • Lorraine Bayliss, Partner, Energy & Infrastructure Group, Allen & Overy
  • Mauricio Cardenas, Former Minister of Finance, Republic of Colombia
  • Miguel Arrarás, EMEA Business Development Director, ACCIONA Energía
  • Dan Croft, Upstream Manager, Infrastructure & Natural Resources, Middle East & Africa, IFC
  • Iain Macaulay, Director, Head of Project Finance, Infrastructure, CDC Group

2:45-3:30pm: Breakout 1B. Structured Finance and Capital Markets-Based Mobilization: New Solutions to Grow Financing Options for Emerging Market Corporates

  • How can structured finance and credit solutions be used to increase financing to corporates in emerging markets?
  • How to bring private sector financing to infrastructure?
  • How to facilitate capital market access for local corporates?
  • DFIs’ role in supporting local corporate bond issuance
  • Success stories and lessons learned from SME Boards
  • How can we foster the development of secondary markets for alternative lending to SMEs?
  • Product/Platform Structuring & Risk/Return

 

Speakers:

  • Moderator: Jonathan Brandon, Managing Editor, Bonds & Loans   
  • Janne Sevanto, Principal Financial Officer, CTCLA, IFC Treasury
  • Virginie Couchet, Director, Structured Finance EMEA, S&P Global Ratings g
  • Dr. Sebastian Schroff, Global Head of Private Debt, Allianz Investment Management
  • Steve Gandy, Managing Director, Head of Private Debt Mobilization Notes and Structuring, Santander

2:45-3:30pm: Breakout 2B: Recent Innovations in Green Finance

  • What are the new Green Loan Principles
  • Green bilateral loans, green syndicated loans, green revolving credit facility, and green project finance. What are the challenges?
  • Where are the main opportunities in growing the green loan market?
  • What role can green bond funds play in growing supply and demand of sustainable finance?
  • How can we develop a secondary market for green bonds/loans?
  • How does a green bond fund collate impact data?
  • How has pricing differed with these new loan products?

 

Speakers:

  • Moderator: Flora Chao, Manager, Funding, IFC
  • Jean-Marie Masse, Chief Investment Officer, FIG, IFC
  • Tim Conduit, Partner, International Capital Markets Group, Allen & Overy 
  • Leonie Schreve, Global Head of Sustainable Finance, ING
  • Shrey Kohli, Head of Debt Capital Markets & Funds, London Stock Exchange Group

3:30 am - 4:00 amNetworking Break

4:00-4:45pm: Technical Workshop 1C. Blended Finance

  • What is blended finance and what tools do MDBs have at their disposal to support these efforts? 
  • How the World Bank Group’s IDA PSW has been used to increase access to finance to SMEs and absorb currency risk to expand local currency financing?
  • How has blended finance been used to crowd commercial investors into emerging markets risks? 
  • Can this model successfully overcome origination challenges?
  • Are there markets and economic sectors that are most ripe for this model?

Facilitator:  

  • Frederic Wandey, Principal Financial Officer and Head of Treasury & Syndications Coordination Unit, IFC

Proposed Presenter:

  • Ricardo Gonzalez, Blended Finance Specialist – New Business & Portfolio, IFC

Discussant(s):

  • Alvaro Lario, Associate Vice-President and CFO, International Food and Agricultural Development
  • Kay Parplies, Head of Investment and Innovative Financing, European Commission 
  • Gillian Marcelle, Founder and Managing Member, Resilience Capital Ventures
     

 

4:00-4:45pm: Technical Workshop 2C:  Looking into the Crystal Ball – Green, SRI, Blue, ESG and Now SDG Bonds

  • How do the investors consider the different thematic bonds?
  • Is there a difference in performance of social bonds and green bonds?
  • What do underwriters find as a challenge for issuers vs. investors?
  • How is impact measured by investors across the bond types?
  • What are growth expectations for social and sustainability bonds?
  • What is the expected impact of regulation, the growth of ESG ratings/assessments for issuers?

Facilitator:

  • Esohe Denise Odaro, Head of Investor Relations - Funding, IFC

Presenter: 

  • Rahul Ghoush, Senior Vice President, Environmental, Social & Governance, Moody’s Investor Service

Discussant(s):

  • Giulia Pellegrini, Director – Emerging Markets Fixed Income, Portfolio Management Group, Blackrock (Investor) 
  • Philip Brown, Managing Director, Capital Markets, Citi
  • Francesca Suarez, Green Bond Specialist, Mirova

 

 

4:45 pm - 7:00 pmNetworking/Free Time

7:00 pmBuses' departure from hotel

7:30 pmIFC Gala Dinner
(Casino de Madrid)

7:30 pm - 8:15 pmCocktails

8:15 pmDinner

10:45 pm - 11:15 pmShuttles return to hotel

 

 

Wednesday, September 25

Day 2 theme:
Scaling Up: Creating Sustainable Investment Opportunities in Emerging Markets
Master of Ceremony:  Mr. Philippe Ahoua, Manager, Treasury Clients Solutions - Asia, IFC

 

7:30 am - 8:30 amNetworking Breakfast

 

8:30 am - 9:30 amGame Changers - Technology: How Fintech Is Changing How and Who We Finance
Moderator:  Martin Habel, Manager, CTCEM, & Acting Deputy Treasurer, IFC Treasury

  • As new technologies battle for our attention, which should banks and investors be paying attention to?
  • How are traditional players incentivizing fintech innovation? What are new players doing to stir the pot and change the status quo?
  • What are some of the most successful applications of fintech for changing how financial firms operate?
  • Can fintech really offer the “trifecta” of better services, lower costs, and deeper reach to unbanked firms and households globally?
  • How can governments effectively balance their role of protecting consumer privacy and data and encouraging businesses to harness these technologies to expand access to financial services?

Speakers:

  • Salvador Ruiz Bachs, Partner, Allen and Overy 
  • Darko Hajdukovic, Head of Multi-Asset Primary Markets and Investment Funds, London Stock Exchange Group
  • Samuel Eyob, Portfolio Manager – Africa, Lendable
  • Emeka Njokanma, Director, TD Securities 
  • Sewar Nowwar, Business Development Manager, Jibrel Network

 

9:30 am - 10:30 amGame Changers - De-Risking with Insurance: Mobilizing Risk Appetite to Deepen Emerging Market Investing
Moderator: Euan Marshall, Head of Co-Investor Solutions, IFC Syndications

  • How are DFIs using insurance to mobilize private partners into new EM assets and de-risk their existing exposures?
  • What specific types of assets are a natural fit for insurance? For what types do insurers have greatest appetite? 
  • Do portfolio-based insurance solutions, like those piloted by IFC and OPIC, have the potential for scaleup and replication? 
  • What were the most significant challenges in developing portfolio insurance? Can other DFIs and insurers adopt this model?
  • What is the potential for DFIs to standardize the documentation they use for insurance?
  • How can DFIs and insurers work together to push the envelope on eligible assets?

Speakers:

  • Richard Abizaid, Regional Product Leader and Head of the Americas, AXA XL
  • Peter Sprent, Head of Financial Risk Solutions, Liberty Specialty Markets
  • Stephen Kay, Managing Director, Structured Credit and Political Risk, Marsh
  • Alberto Amo Mena, Managing Director, Global Head of Private Debt Mobilization, Santander
  • Lise Kessler, Global Head of Credit Risk Insurance, Crédit Agricole CIB 

 

10:30 am - 11:00 pmNetworking Coffee Break

 

11:00 am - 12:00 pmGame Changers – Innovations in Infrastructure: How Banks and Asset Managers Are Going Outside Their Comfort Zones to Invest in Emerging Market Project Finance
Moderator: Silvia Pavoni, Economics Editor, The Banker

  • How have global economic trends altered the landscape of project finance?
  • What are the most successful examples of regional banks going across borders to invest in infrastructure projects in neighboring countries?
  • When they move into other countries and regions, what are regional banks looking for?
  • How can other regions learn from Asia’s lessons and deepen their own regional financial networks?

Speakers:

  • Claus Fintzen, Chief Investment Officer – Infrastructure Debt, Allianz Global Investors
  • Luca Tonello, Joint General Manager, Head of Project Finance-Asia, Investment Bank Asia, SMBC
  • Clive Kerner, CEO, Clifford Capital Pte
  • Mike Cheng, Senior Vice President, Infrastructure Financing and Securitization, The Hong Kong Mortgage Corporation Limited
  • Jean-Jacques Barberis, Head of Institutional and Corporate Clients Coverage, Amundi

 

12:00 pm - 12:15 pmConference Close

  • John Gandolfo, IFC VP & Treasurer, Thank-you Remarks
  • Xiana Mendez, State Secretary, Closing Remarks

 

12:15 pm - 2:00 pmNetworking Lunch

 

The following session is by Invitation Only:

2:15 pm - 3:15 pmConference Sponsors’ Roundtable – Feedback and looking ahead
Chair: John F. Gandolfo, Treasurer and Vice-President, IFC