LTIC elects ICO to assume its vice-presidency
The Long Term Investors' Club (LTIC) elects Cassa Depositi e Prestiti to assume its presidency, and China Development Bank, ICO and Caisse de Dépôt et de Gestion of Morocco to assume its vice-presidency.
Launched in 2009 by four major European public financial institutions - the European Investment Bank, Caisse des Dépôts, Cassa depositi e prestiti, and KfW - the Long Term Investors' Club rapidly developed into a global platform composed of leading financial institutions and institutional investors from all over the world.
Its Steering Committee meeting in Rome on 3 July elected Cassa Depositi e Prestiti to assume its new presidency for the next two years to succeed to KFW. China Development Bank, ICO and Caisse de Dépôt et de Gestion of Morocco assumed the vice-presidency for the same period.
On the eve of their participation in the D20 meeting on 4 July, the Steering Committee of the Club updated its action plan in order to focus its future action in support of infrastructure, SMEs, and to stimulate discussion about the regulatory framework for long-term financing of sustainable investment in the real economy.
With its 19 members, the LTIC Club herewith represents a combined balance sheet total of more than US $5 trillion which makes it one of the major platforms of investors in the world.
The LTIC Club is a member-driven and project-oriented international organization that gathers global financial institutions and investors committed to supporting the massive long-term investments required for a more sustainable economic growth of the real economy, at national and multilateral level.