European DFIs reinforce co-financing platform with an extra EUR 680 million
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.
The European Financing Partners (EFP), a joint venture established by the European Investment Bank (EIB) and several European DFIs in 2003 is expanding. The EIB, together with nine European DFIs (BIO - Belgium, COFIDES - Spain, DEG - Germany, FINNFUND - Finland, FMO – The Netherlands, IFU - Denmark, OeEB - Austria, PROPARCO – France and SWEDFUND - Sweden) have committed a total of EUR 680 million to support private sector sustainable growth in developing countries and emerging markets.
European DFIs are committed to scaling up the transformative role of EFP to fight poverty and climate change in emerging markets.
Peter Thimme, Chair of the Board of Directors of EFP
In parallel to the funding upgrade, EFP will in the future also support renewable energy investments via one single platform with two windows to increase the efficiency and reduce the operational costs of existing facilities. In addition, the EFP will comply with strengthened ESG standards, KYC-AML conditions and impact reporting requirements.
With this replenishment, European DFIs are sending a strong message to entrepreneurs and SMEs active in the regions where they operate.
Rodrigo Madrazo, CEO of EDFI Management Company
Since its inception, the facility has provided more than EUR 700 million to support innovative and sustainable private sector financing. The platform has contributed to foster coherence and coordination among development actors towards the achievement of the Sustainable Development Goals and the Paris Agreement.
The European Investment Bank is pleased to join European development finance institutions to further boost private sector growth in developing countries and emerging markets to tackle the impact of climate change.
Thomas Östros, Vice President of the European Investment Bank
About
EFP is a co-financing facility providing long-term financing to projects in countries included in the OECD DAC list, with a special focus on Africa. The funding capacity of EFP is provided by the EIB and 9 EDFI members. This co-ownership structure allows financing larger investments, to pool resources and expertise and align strategies. This initiative stands out as a best practice in terms of financial and technical cooperation among development institutions. The facility offers a fast-track procedure to syndicate large amounts in an efficient two-step process while sharing the risk of the operation among the EIB and European DFIs. The secretarial support services are provided by the EDFI Management Company.
Since 2003, the partnership between European DFIs and the EIB has promoted sustainable private sector development through 55 projects, so far, at a value exceeding EUR 700 million across 23 countries.
Contact
Mathilde Poncelet
EDFI Senior Communications Specialist
mathilde.poncelet@edfi.eu
European Financing Partners S.A.
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Debt € 20,000,000.00 (2022)Africa, Angola, 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, Asia, Latin America and Caribbean, Middle East
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Debt € 15,000,000.00 (2020)Africa, Kenya, Nigeria, Senegal, Tanzania, Zambia, Asia, India
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Debt € 5,000,000.00 (2010)Africa, Kenya, Nigeria, Senegal, Tanzania, Zambia, Asia, India, Middle East
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Equity € 6,000.00 (2003)Africa, Kenya, Nigeria, Senegal, Tanzania, Zambia, Asia, India, Middle East
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