News | Mar 28, 2023
Becoming more than the sum of the parts
The Association of bilateral European Development Finance Institutions (EDFI), Joint European Financiers for International Cooperation (JEFIC), and the Practitioners’ Network for European Development Cooperation (PN) have endorsed a Statement of Intent to further enhance collaboration among the three networks.
This Joint Statement of Intent recognises the variety and diversity of actors and tools that are part of the Team Europe, and the distinctive elements of the European development cooperation system.
The development organisations of the three networks have already identified potential cooperation areas and are leveraging their strengths, added value and expertise to deliver appropriate solutions together with partner countries.
Each Member of the three networks bring their own knowledge of country needs and priorities, expertise in public policy dialogues, understanding of investment readiness and experience in working with both the public and private sectors. Working together, they can leverage their collective knowledge of country needs and priorities towards transformational impact.
The Joint Statement also intends to further continue the successful collaboration and promote the Global Gateway Strategy and Team Europe Initiatives, with a view to reaching more impact together under the framework of the 2030 Agenda for Sustainable Development.
This Joint Statement is the result of a dialogue that started in 2020 between EDFI, JEFIC and the Practitioners Network.
You can read the full Joint Statement here.
EDFI is the Association of 15 bilateral European Development Finance Institutions (DFIs - see list of members below), which invest in sustainable private sector projects and economic activities in developing and emerging economies to promote job creation, boost sustainable economic growth, and fight poverty and climate change. With a combined portfolio of €48 billion, including over €13 billion of climate finance, EDFI’s member institutions share a vision of a world where the private sector offers people in low and middle-income countries opportunities for decent work and improved lives, and where private investment flows are aligned with the Sustainable Development Goals and the Paris Climate Agreement. EDFI’s mission is to promote the joint interests of its members, inform policy, and drive innovation in industry standards.
Joint European Financiers for International Cooperation is a network of 4 European bilateral banks and financial institutions (members see below), which mainly work with public sector partners in partner countries around the world. Next to this, also private sector investments and the enhancement of local regulatory frameworks are supported. With a combined funding volume of more than EUR 21 billion in 2022 and more than 200 local offices, JEFIC provides a substantial share of global financing for sustainable development. JEFIC Members share strategic objectives and operational opportunities to identify common financing activities, with the vision to contribute to the success of Global Gateway and the Team Europe Initiatives and to achieve the Sustainable Development Goals (SDGs) by covering multiple target countries and sectors.