Interact was established in 1973 and consists of the fifteen EDFI members, Agence Française de Développement (AfD) of France, the Black Sea Trade and Development Bank (BSTDB), the European Investment Bank (EIB), Kreditanstalt für Wiederaufbau (KfW) of Germany and The Currency Exchange Fund (TCX). It is a forum for the exchange of views on development topics working groups which meet regularly and a CEO group which meets annually.

The EDFI office in Brussels provides the secretarial services for Interact.

AFD - Agence Française de Développement



5, rue Roland Barthes
75598 PARIS Cedex 12
Tel: +33 1 53 44 31 31
Fax: +33 1 44 87 99 39
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AFD is the Groupe Agence Française de Développement, a bi-lateral development finance institution established in 1941 that works on behalf of the French government.  Its mission is to finance development according to France’s Overseas Development Assistance policies.

AFD’s activities are aimed at reducing poverty and inequalities, promoting sustainable economic growth, and protecting “Global Public Goods” of benefit to all humanity. Protecting Global Public Goods includes the fight against climate change and pandemics; the preservation of biodiversity; the promotion of social and environmental responsibility; as well as aid to countries weakened by strife, war and natural disasters.

AFD’s actions in favor of economic growth and preservation of the environment fall directly within the framework of the United Nation’s Millennium Development Goals, which was set out in 2000 and seeks to reduce global poverty by half by the year 2015.

AFD uses a wide range of financial instruments to underwrite its activities: grants, subsidies, guarantees, loans, equity shareholdings, co-financing and local bank intermediation.

AFD works hand-in-hand with many partners: national, regional and local governments; local authorities and municipalities; international agencies; non-governmental organizations; foundations; private companies; entrepreneurs; and local banks, microfinance institutions and capital markets.

In addition to leveraging financial assets, AFD leverages its intellectual assets and those of its partners.  Through its activities, research and debates, AFD strives to increase French influence in the area of development assistance.

AFD’s financing, know-how and more than a thousand employees and agents support social, economic and environmental projects in such diverse sectors as rural development, urban infrastructure, transportation, agriculture, education, banking and microfinance, energy, health care, telecommunications, mining, housing, eco-tourism.

BSTDB - The Black Sea Trade and Development Bank





1 Komninon str.
54624 Thessaloniki
Tel: +30 2310 290-400
Fax: +30 2310 221796, 286590
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The Black Sea Trade and Development Bank (BSTDB) is an international financial institution established by Albania, Armenia, Azerbaijan, Bulgaria, Georgia, Greece, Moldova, Romania, Russia and Ukraine. The BSTDB headquaters are in Thessaloniki, Greece. BSTDB supports economic development and regional cooperation by providing loans, credit lines, equity and guarantees for projects and trade financing in public and private sectors in its member countries. The authorized capital of the Bank is EUR 3,45 billion.

EIB - European Investment Bank




98-100, boulevard Konrad Adenauer
L-2950 Luxembourg
Tel: +352 43 79 1
Fax: +352 43 77 04
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The European Investment Bank was created by the Treaty of Rome in 1958 as the long-term lending bank of the European Union.

The task of the Bank is to contribute towards the integration, balanced development and economic and social cohesion of the EU Member States.

The EIB raises substantial volumes of funds on the capital markets which it lends on favourable terms to projects furthering EU policy objectives. The EIB continuously adapts its activity to developments in EU policies.

Besides supporting projects in the Member States, its main lending priorities include financing investments in future Member States of the EU and EU Partner countries. The EIB operates on a non-profit maximising basis and lends at close to the cost of borrowing. The Bank's consistent AAA rating is underpinned by firm shareholder support, a strong capital base, exceptional asset quality, conservative risk management and a sound funding strategy.

KfW - KfW Bankengruppe


Palmengartenstrasse 5-9
60325 Frankfurt am Main
Tel: +49 69 74 31-0
Fax: +49 69 74 31-29 44
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KfW Bankengruppe gives impetus to economic, social and ecological development worldwide. As a promotional bank under the ownership of the Federal Republic and the Länder (federal states), it offers support to encourage sustainable improvement in economic, social, ecological living and business conditions, among others in the areas of small and medium-sized enterprise, entrepreneurialship, environmental protection, housing, infrastructure, education finance, project and export finance, and development cooperation.


The Currency Exchange Fund - TCX Investment Management Company

Sarphatikade 14
1017 WV Amsterdam
The Netherlands

Tel: +31 (0) 20 531 4851
Fax: +31 (0) 20 330 1328

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Borrowers in emerging markets with local currency assets must often choose between two equally risky and unattractive alternatives for long-term funding. Either they fund long-term local currency assets with short-term liabilities in local currency, incurring a term mismatch, or they fund these with long-term, hard currency debt from international investors, incurring a currency mismatch. Both options create an undesired financial disparity that often results in a potential threat to continuity, unforeseen costs and overcapitalization.

The Currency Exchange Fund N.V.’s (“TCX” or the “Fund”) mission is to be a leading catalyst for the development of long-term local currency hedging products to bridge this market divide. TCX is the first of its kind in addressing this issue. By combining the collective strength of leading global financial institutions active in frontier markets, TCX invests in long-term emerging market currency and interest rate derivatives on an uncovered basis, managing its risks through diversification across all regions and countries of the developing world.