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News from 2022-06-21 / KfW Development Bank

JEFIC - Next level in cooperation between European public development banks

Representatives of JEFIC partner banks peering through a frame.
The common direction is clear: JEFIC is now at the start for Team Europe.

With the launch of their new common brand JEFIC - Joint European Financiers for International Cooperation - KfW Development Bank and its European partner institutions AFD (France), CDP (Italy) and AECID (Spain) are taking their cooperation to a new level.

Since 2016, the current founding members of JEFIC have been acting together within the framework of Enhanced Cooperation, thereby offering the EU best-in-class solutions for implementing its development policy goals. Thanks to the bundling of their specific strengths, their decades of experience and grown partner relationships on the ground, the JEFIC partners make an efficient contribution to #TeamEurope as national development financiers. This quality of diversity not only benefits the EU - other partners and donors, and not least the people in developing and emerging economy countries also profit from it and gain access to a broad pool of European know-how, financial strength and tailor-made solutions.

JEFIC was presented for the first time at the European Development Days in Brussels in June. To this end, leading representatives of the four partner banks exchanged views on the future agenda at a summit meeting and then launched the new platform in the EDD Global Village at the joint stand of AECID, AFD, CDP and KfW in the presence of representatives from the EU Commission and other European banks. Here, the mixed audience from EU and other, mostly development and socio-political circles, which had once again gathered in presence at the EDDs, could inform themselves about JEFIC's goals and activities. The projects presented in the fields of climate, renewable energies and mobility were examples of what has already been achieved in the cooperation to date.

Logo of Joint European Financiers for International Cooperation (JEFIC)

With a joint financing volume of more than EUR 18 billion in 2021, the JEFIC network provides a significant share of global financing for sustainable development. Around one third of the funds generated by the EU's blending and guarantee instruments are handled by JEFIC members, who ensure close networking and presence on the ground through their more than 200 offices in 85 countries.

In October 2021, the four institutions had agreed in a Joint Declaration to further deepen their relationship, while opening the initiative to new members. In addition, an innovative financing platform is in preparation to contribute to a more efficient and comprehensive European financial architecture for development: To this end, JEFIC partners intend to conclude a new framework agreement on co-financing in the coming months, which will also provide for enhanced operational coordination, joint processes and pooling of financial resources. The alliance is thus well positioned for its ambitious goals under the European strategy 2021-2027 and beyond.

Further information on JEFIC

JEFIC brochure