Innovative financing platform to enhance cooperation between European public development bank

KfW is planning to initiate a “Team Europe Financing Platform” together with the three European development banks AFD (France), AECID (Spain) and CDP (Italy). The purpose of the platform is to further enhance the efficient cooperation between the various actors of European development cooperation.

The objective is to improve the structural framework and thus facilitate the existing cooperation between European public development banks and financing institutions, enhancing the impact and the visibility of EU development cooperation. The co-financing framework will be launched by 2022. Common procedures will allow for a more efficient set-up of common projects and help to join forces more effectively in order to better support partner countries. The platform will pave the way to various improvements, drawing on the strengths of all participating banks and institutions and delivering their combined field expertise in a more streamlined fashion, remaining focused on shared European values.

All participating banks are already members of the global coalition of 450 public development banks launched at the Finance in Common Summit (FiCS) in November 2020. In the spirit of a truly joined-up “European Development Finance System”, the cooperation between European public development banks and financing institutions is taking on an increasingly concrete dimension - altogether, the European Union and its member states are the largest provider of development finance in the world.

Practical collaboration is not new to the participating organisations. There are numerous examples for common operational experiences both at national and regional level and under different kinds of modalities. The envisaged platform will make it even easier to build on and to replicate these approaches.

A most welcome contribution to accelerating the progress towards the SDGs, and increasing the visibility of “Team Europe” as a driving force in global sustainable development.