European Financing Partners S.A.
BIO has approved a EUR 20 M facility to the European Financing Partners with the aim to provide financing to a different range of project companies in countries included in the OECD DAC list in syndication with other EDFIs.
Amount
€ 20,000,000.00
Type of investment
Debt
Development impacts
- Local economic growth
- Access to basic services & goods
- Fight against climate change
Beneficiary locations
Investment field
Investment Companies & Funds
Activity
Organisation
European Financing Partners S.A.
Domicile
The objective of EFP is to finance projects with the goal of promoting sustainable development of the private sector in Eligible Countries and to strengthen the cooperation between EDFIs and the EIB. This new Master Investment Agreement (MIA) will include two investment windows: EFP window and ICCF window.
EFP will continue to be focused on financing private companies such as financial institutions and SMEs & Corporates, while the ICCF objective is to finance climate change and climate efficiency projects and to demonstrate to private sector investors the financial attractiveness of climate-friendly projects in developing countries and emerging markets, thereby serving a catalytic role in attracting long-term investments. ICCF will contribute to promoting the use of clean technology as an integral part of economic development and contemplates the provision of long-term financing for renewable energy and energy efficiency projects in countries suffering from significant energy shortage/access and, hence, contributes to economic development.
Development impacts
-
Local economic growth
The facility will provide access to long-term financing to SMEs/Corporates and FIs through the EFP window and to Infrastructure projects through the ICCF window, supporting the creation and maintaining existing jobs
-
Access to basic services & goods
ICCF facilitates access to reliable and affordable electricity sources at predictable costs; contributes to the reduction of energy shortages and deficient infrastructure.
-
Fight against climate change
ICCF will contribute to promoting the use of clean technology as an integral part of economic development and contemplates the provision of long-term financing for renewable energy and energy efficiency projects in countries suffering from significant energy shortage/access and, hence, contributes to economic development. All projects supported by ICCF contribute to carbon emission reductions. ICCF estimates the carbon footprint of all projects in which it invests.
Summary of E&S due diligence:
In the EPF-ICCF facility, BIO will leverage on the E&S practices of the Promoting Partners (PPs). PPs can be the European Investment Bank (EIB) or one of the European Development Financial Institutions (EDFI) who share with BIO the E&S commitments stated in the EDFI Principles for Responsible Financing of Sustainable Development.
Furthermore, the PPs - whose E&S team will perform the E&S due diligence, negotiate the ESAP with the Project Company and will take care of the monitoring - agreed to use the EDFI E&S Harmonised Standards (or similar ones for EIB).
Made possible through this investment
AFL
Nigeria
C.25.5 Forging, pressing, stamping and roll-forming of metal; powder metallurgy
Africa Finance Corporation (AFC)
Nigeria
Trusts, funds and similar financial entities
Aspen Pharmacare Holding Limited
Manufacture of basic pharmaceutical products
Banco Atlantida
Honduras
Banco Internacional
Ecuador
Banco Internacional is a universal bank with a focus on the Corporate and SME market with strong long-term relationships with its clients.
Careworks
Uganda
Q.86.1 Hospital activities
Cements du Sahel - CDS
Senegal
C.23.5 Manufacture of cement, lime and plaster
Cooperative Bank of Kenya
Kenya
CoopBank provides an extensive range of banking services including corporate lending, loans to Savings and Credit Co-operative Organizations and salary-based personal lending. CoopBank has grown from being the bank of the cooperative sector to catering all segments in Kenya with a large customer base of over nine million using physical (178 branches) and digital channels.
Ecobank Togo
Togo
Holding account
Ecosac
Peru
ETG
A.01.1 Growing of non-perennial crops
Indorama Eleme Fertiliser
Nigeria
Indorama is a green field project created in 2010 for the purpose of construction and operation of the urea fertilizer plant, in Nigeria, Port Harcourt. The project consists of 1.4mln MTPA (metric tons per annum) gas to urea fertilizer plant (incl. ammonia and urea plant), 84km underground gas pipeline, jetty and additional infrastructure. The plant processes natural gas to obtain the granular urea fertilizer - a solid nitrogen fertilizer commonly used in agriculture.
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
Electric power generation, transmission and distribution
Scancem
C.23.5 Manufacture of cement, lime and plaster
Zambeef
Zambia
A.01.4 Animal production
Viru S.A.
Peru
Read impact and news about this project
News
European DFIs reinforce co-financing platform with an extra EUR 680 million
21-12-2022
The European Investment Bank (EIB) and nine European bilateral DFIs replenish the existing joint financing facility - the European Financing Partners (EFP) - to scale up their Team Europe contribution over the next three years.
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.
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