Many would argue that government-owned banks are not a good use of public money. Indeed, there may even be some “stigma” attached to supporting their merits, even when those institutions are built to support economic development, thinks Rémy Rioux, CEO of Agence Française de Développement (AFD), France’s public development bank.
As solving the world’s most pressing issues demands the attention of all actors, public and private, as well as a bridge to bring the two together, the role of development banks will, in fact, likely grow in relevance. It will also need a better definition. Mr Rioux, for example, wants his government to assign him new targets.
