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3 mins Read 23 Oct 2024 Washington

European Development Finance Institutions sign landmark separate affiliate partnerships with US DFC and FinDev Canada

PRESS RELEASE

WASHINGTON, 23 October 2024– Fifteen European Development Finance Institutions grouped under the Association of European Development Finance Institutions (EDFI) have signed today, in Washington, two separate affiliate partnership arrangements with the United States Development Finance Corporation (DFC) and FinDev Canada, marking a breakthrough in global cooperation among development finance institutions.

In a ceremony held this morning at DFC offices, EDFI Board Chair Luuk Zonneveld, DFC CEO Scott Nathan, and FinDev Canada CEO Lori Kerr signed EDFI affiliate partnership letters. The event was witnessed by CEOs from EDFI member institutions, underscoring the great benefits anticipated to flow from this collaborative effort.

Strengthening Global Development Finance

Set for a one-year period, the affiliate partnerships will aim to bolster the global reach of US, Canadian and European Development Finance Institutions (DFIs) to enhance their collective contribution in support of sustainable development and global stability, in line with the public mandates they each serve. They also will seek to boost chances for better mobilisation of private finance for development, improved operational efficiency, and alignment with sustainable finance regulatory frameworks.

“We share a common vision of development finance. By working together with FinDev Canada and DFC, we collectively strengthen our contribution to sustainable development and global stability.”

“As the global development finance landscape evolves, partnerships like these play a crucial role in addressing complex challenges. By working together, we can bring more ideas and more efficiency deploy resources to strengthen growth in developing countries.”

– EDFI Board Chair Luuk Zonneveld

Emphasising the significance of these new affiliate partnerships, Luuk Zonneveld said, “We share a common vision of development finance. By working together with FinDev Canada and DFC, we collectively strengthen our contribution to sustainable development and global stability.”

DFC CEO Scott Nathan commented: “Today’s announcement demonstrates DFC’s commitment to cooperation with like-minded peer institutions. By leveraging our strengths in pursuit of shared objectives, DFC and its partners can effectively multiply our impact and reach.”

FinDev Canada’s Kerr added: “As DFIs, we all share a common goal of working with and through the private sector to drive development in emerging markets and developing economies. These agreements encourage us to learn from one another and share best practices, and identify opportunities for collaboration and innovation. As a community, bilateral DFIs are a critical part of the international financial architecture and are well-positioned to do more to effect even greater development through the private sector.”

Cooperation among DFIs part of a growing trend

The two affiliate partnerships reflect a growing tendency among  the development finance community towards greater international cooperation.

Zonneveld concluded: “As the global development finance landscape evolves, partnerships like these play a crucial role in addressing complex challenges. By working together, we can bring more ideas and more efficiency deploy resources to strengthen growth in developing countries.”

For more information, contact:

EDFI: James Pieper, Communications, james.pieper@edfi.edu, +32 490 16 76 67

US DFC: Christopher Bull, Public Affairs, Press@DFC.gov, +1 (202) 312-2188.

FinDev Canada: David Bhamjee, Strategy & Engagement, dbhamjee@findevcanada.ca, +1 (613) 852-4042