Long-Term Investors Club (LTIC) Steering Committee Meeting
The Chairwoman of ICO, Emma Navarro, has been appointed Vice-President of the LTIC (Long-Term Investors Club). The appointment was made at the LTIC Steering Committee meeting held in Beijing on 27 May.
An ICO delegation, headed by Chairwoman Emma Navarro, took part in the LTIC Steering Committee meeting and the D20 conference held in Beijing on 26 and 27 May, organised by the China Development Bank (CDB).
The meeting renewed the different executive positions of the LTIC, with ICO retaining the vice-presidency of this international organisation, which it has held since July 2014.
The 4th D20 conference, consisting of the state financial institutions of the G20 member countries, was also held within the framework of the LTIC Steering Committee meeting. The ¿D20 Statement¿, signed by ICO, was published during the conference and outlines the proposals put forward by the group regarding the conditions needed to enable promotional banks and long-term investors to play their role in supporting long-term investment.
Long-Term Investors Club (LTIC)
The Long-Term Investors Club (LTIC) was established in 2009 by the four main European public finance institutions: Caisse des Dépôts, Cassa Depositi e Prestiti, the European Investment Bank and KfW.
The LTIC was created to promote international cooperation between different long-term investment agents and to facilitate the development of a shared identity and the exchange of best practices.
The Club has subsequently been extended to other countries and currently includes a total of 19 financial institutions from around the world. ICO joined in 2013. All of its members are investors committed to supporting the large-scale investment needed to ensure economic growth and job creation, both domestically and multilaterally. The association represents a combined balance sheet of $5 billion, making it one of the largest investor platforms in the world.
ICO has held one of the vice presidencies of the Club since July 2014, a position that was recently renewed for a further two years.
The D20 is an informal group made up of development banks from G20 member countries. Its meetings are not included in the official program of G20 summits. ICO is not a member of D20, but has been granted permanent observer status.
The first D20 meeting was held in Moscow in 2013 under the G20 Russian presidency. Since then the D20 has held a further three meetings, in Rome in 2014, Istanbul in 2015 and Beijing in 2016.