European Financing Partners S.A.

Debt : December 2020

BIO has granted a EUR 15 M loan to the European Financing Partners matching facility for loans from EDFIs to project companies in the ACP region.

Amount

€ 15,000,000.00

Type of investment

Debt

Development impacts

Local economic growth
Access to basic services & goods

Beneficiary locations

Asia: India

Sub-Saharan Africa: Kenya, Nigeria, Senegal, Tanzania, Zambia

Investment field

Investment Companies & Funds

Activity

KK.64.300 SME Fund

Organisation

European Financing Partners S.A.

Website

https://www.edfi.eu/facility/efp/

Domicile

Luxemburg

More investments in

European Financing Partners S.A.

Debt € 5,000,000.00 (2010)
Equity € 6,000.00 (2003)

EU development cooperation with the Africa, Caribbean and Pacific (ACP) region is laid down in the Cotonou Agreement between the EU member states and the ACP countries. An important element of this agreement, which was signed in June 2000, is the establishment of the Cotonou Investment Facility (IF): a EUR 2.2 billion revolving fund to be invested in the private sector of the ACP countries. The EIB became manager of the IF which started its operations on June 2, 2003.

The European Financing Partners (EFP) matching facility for senior loans from European Development Finance Institutions (EDFIs) to project companies in the ACP region is the concrete proposal from EDFIs to cooperate with EIB in implementing part of the IF.

The establishment of EFP is of strategic importance to all EDFIs. The European integration continues, also with respect to development cooperation and finance. EDFIs have to cooperate more closely together in other to convince (European) policymakers and politicians of their value-added. Not only in a bilateral context but also in a multilateral context with a European joint venture between EDFIs and EIB: the EFP. This vehicle – with EIB as one of its shareholders – will also give EDFIs the opportunity to continuously discuss with EIB the preservation of a level playing field with respect to market conditions in the ACP region.

Advantages of EFP for EIB are access to the EDFI pipeline and sound implementation of a possibly significant amount of the IF without incurring substantial costs. To EDFIs, the concrete advantages are the leverage effect of the substantial additional financing that can be offered to a client and the remuneration package.

Covid-19

Following the coronavirus outbreak, DFIs and MDBs coordinated an investment-related response to provide a fast reaction to the Covid-19 crisis. Within these discussions, EFP (phase 6) has emerged as a preferred potential platform to pool resources, facilitate and streamline financial cooperation to address the emergency and recovery phase of the pandemic. Through this facility, BIO and other European partners are able to join efforts and mobilise capital for fighting the impact of the global pandemic.

Development impacts

Local economic growth
Effects at investee level
Access to long-term financing for SMEs : Projects submitted by the Promoting Partners can differ from the objectives of BIO in respect to the defined target group (micro, small and medium-sized companies); Eligible financing proposal between €1m and €25m

Access to long-term financing for MFIs/FIs: EFP also invests in financial intermediaries

Access to long-term financing for infrastructure: EFP also invests in the power sector
Access to basic services & goods
Investments in communication infrastructure projects

Made possible through this investment

Thanks to the direct funding from BIO, the following second-line investments have been made possible.

AFL

Nigeria

C.25.5 Forging, pressing, stamping and roll-forming of metal; powder metallurgy

Africa Finance Corporation (AFC)

Nigeria

K.64.3 Trusts, funds and similar financial entities

Aspen Pharmacare Holding Limited

C.21.1 Manufacture of basic pharmaceutical products

Careworks

Uganda

Q.86.1 Hospital activities

Cements du Sahel - CDS

Senegal

C.23.5 Manufacture of cement, lime and plaster

Coop Bank

Kenya

K.64.1 Monetary intermediation

Ecosac

Peru

ETG

A.01.1 Growing of non-perennial crops

Indorama Eleme Fertiliser

Nigeria

C.20.1 Manufacture of basic chemicals, fertilisers and nitrogen compounds, plastics and synthetic rubber in primary forms

Jamaica Public Services (JPS)

D.35.1 Electric power generation, transmission and distribution

Maputo Private Hospital (MPH)

Mozambique

Q.86.1 Hospital activities

National Microfinance Bank Tanzania (NMB Tanzania)

Tanzania

K.64.1 Monetary intermediation

Olkaria

Kenya

D.35.1 Electric power generation, transmission and distribution

Precision Air

Tanzania

H. Transportation and storage

PTA Bank

Burundi, Kenya

K.64.1 Monetary intermediation

Rabai Power Ltd.

Kenya

D.35.1 Electric power generation, transmission and distribution

Scancem

C.23.5 Manufacture of cement, lime and plaster

Zambeef

Zambia

A.01.4 Animal production

Read impact and news about this project

News

BIO invests in vaccine production in Africa

05-10-2021

Through European Financing Partners - a joint venture between the European Investment Bank (EIB) and several European DFIs - the Belgian Investment Company for Developing Countries (BIO) is investing EUR 1.56 million in the production of covid and other vaccines in Africa.

Enterprises

Poa Internet

17,264.00

Kenya

08/09/2022

Subsidy

Investment Companies & Funds

Convergence Partners Digital Infrastructure Fund L.P.

8,829,240.00

Ghana, Kenya, Nigeria, South Africa

05/07/2022

Equity

Enterprises

Société de Cultures Légumières S.A.

19,550.00

Senegal

13/07/2022

Subsidy

Investment Companies & Funds

Ascent Rift Valley Fund II

323,539.00

Ethiopia, Kenya, Rwanda, Tanzania, Uganda

08/02/2022

Subsidy

Financial Institutions

Victoria Commercial Bank

8,149,300.00

Kenya

24/03/2022

Debt

Investment Companies & Funds

Fefisol II

3,000,000.00

Burkina Faso, Côte d'Ivoire, Democratic Republic of Congo, Kenya, Mali, Niger, Uganda

17/05/2022

Equity

Investment Companies & Funds

Uhuru Growth Fund I-A SCP

7,063,392.00

Burkina Faso, Côte d'Ivoire, Ghana, Mali, Nigeria, Senegal

31/03/2022

Equity

Investment Companies & Funds

Uhuru Growth Fund I-A SCP

2,500,000.00

Burkina Faso, Côte d'Ivoire, Ghana, Kenya, Mali, Nigeria, Senegal

31/03/2022

Equity

Infrastructure

Spark + Africa Fund

2,444,790.00

Burkina Faso, Côte d'Ivoire, Ghana, Kenya, Rwanda, Senegal, Tanzania, Uganda

10/03/2022

Equity

Financial Institutions

Alterfin

80,000.00

Cambodia, Nicaragua, Peru, Côte d'Ivoire, Kenya

03/03/2022

Subsidy

Financial Institutions

KCB Kenya

28,200.00

Kenya

13/07/2021

Subsidy

Investment Companies & Funds

Lendable MSME Fintech Credit Fund

2,994,950.00

India, Indonesia, Vietnam, Kenya, Nigeria, South Africa

20/08/2021

Equity

Investment Companies & Funds

Fonds Cauris Croissance II

5,000,000.00

Benin, Burkina Faso, Cameroon, Côte d'Ivoire, Ghana, Guinea, Mali, Niger, Senegal

05/10/2010

Equity

Investment Companies & Funds

Cathay Africinvest Innovation Fund

4,000,000.00

Egypt, Kenya, Nigeria, South Africa

21/05/2021

Equity

Investment Companies & Funds

Cathay Africinvest Innovation Fund

6,000,000.00

Egypt, Kenya, Nigeria, South Africa

21/05/2021

Equity

Investment Companies & Funds

Alterfin

20,125.00

Cambodia, Nicaragua, Côte d'Ivoire, Kenya

03/08/2021

Subsidy

Financial Institutions

The Currency Exchange Fund n.v.

7,091,000.00

Bangladesh, Cambodia, India, Indonesia, Myanmar, Nepal, Pakistan, Philippines, Sri Lanka, Vietnam, Bolivia, Brazil, Colombia, Dominican Republic, Ecuador, El Salvador, Guatemala, Honduras, Nicaragua, Paraguay, Peru, Algeria, Egypt, Iraq, Jordan, Lebanon, Morocco, Syria, Tunisia, Palestinian Territories, Benin, Burkina Faso, Burundi, Cameroon, Côte d'Ivoire, Democratic Republic of Congo, Ethiopia, Ghana, Guinea, Kenya, Madagascar, Malawi, Mali, Mozambique, Niger, Nigeria, Rwanda, Senegal, South Africa, Tanzania, Uganda, Zambia

05/09/2007

Equity

Investment Companies & Funds