EVENT: 2023 DFI Portfolio Management Conference
EVENTS
SCENARIO PLANNING FOR SHIFTING LANDSCAPES
“Risk aversion provides a huge opportunity for development finance institutions to step in and address market gaps.” – Marife Apilado, Portfolio Management Director
at the Asian Development Bank By Howard Hudson, OPEC Fund
T he OPEC Fund hosted delegates from 18 development finance institutions (DFIs) plus the International Association of Credit Portfolio Managers from September 27-28, 2023, who reconnected in person for the first time since the COVID-19 pandemic. Opening the conference, Tareq Alnassar, OPEC Fund Assistant Director-General for Private Sector and Trade Finance Operations sounded an urgent call to action: “In a world characterized by increasing complexity and uncertainty, the imperative for enhanced collaboration among DFIs is more crucial than ever. The OPEC Fund is proud to host the 2023 Portfolio Management Conference and to provide a platform for exchange among portfolio management units from partner DFIs. Our collective aim is to safeguard the sustainability and development impacts of our projects, optimize our delivery models and enhance our responsiveness to the ever-shifting global dynamics.” Opening proceedings, OPEC Fund’s Portfolio Management Unit Director Said Taufik Ridha joined panelists from the Asian Development Bank (ADB), International Finance Corporation (IFC) and Black Sea Trade and Development Bank (BSTDB) for the first panel session on “Navigating Uncertainty in Portfolio Management”. Moderated by OPEC Fund Investment Manager Fatima Yakubu, the session weighed the lingering effects of the pandemic, combined with geopolitical tensions and economic volatility – before seeking joint solutions for business managers worldwide.
DFI Credit Portfolio Managers met for the first time since the COVID-19 pandemic
Next up, OPEC Fund Investment Manager Esteban Chediak shared the results of the DFI Portfolio Management Survey, completed by 18 DFIs worldwide, which took a deep dive into organizational structures and responsibilities, portfolio management operations, performance evaluation and KPIs, as well as expectations and training needs. Climate change risk management emerged as the number one topic for training requests – to pick just one highlight from the survey results. The afternoon agenda comprised three breakout sessions designed to maximize knowledge sharing within small groups. The first session, focusing on “Achieving the Development Mandate”, featured Guus Werners, Senior Portfolio Officer from the Dutch Entrepreneurial Development Bank (FMO) along with OPEC Fund Investment Managers
Cynara Salmans and Ernesto Aguirre. Participants discussed how harmonizing the definitions and measurement of additionality – and development impact – would help DFIs to be more consistent and rigorous in achieving their development mandates. “Enhancing Delivery Models” was the second breakout theme, featuring Guido Bichisao, Director of Portfolio Management at the European Investment Bank (EIB) and OPEC Fund Senior Investment Manager Saud Al Rajhi, who considered new ways to cut costs while improving client relationships and generating more impact – despite facing ever-more complex environments. The third session, which focused on “Maximizing Operational Efficiencies in Portfolio Management”, featured Cecilia Prieto de Rabassa, Managing Director, Division Chief Portfolio Management
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