DFIs Pledge to Enhance Collaboration in Support of Infrastructure Development
WASHINGTON, April 25, 2022 – The leaders of more than 15 Development Finance Institutions (DFIs) gathered today to affirm their commitment to transparent and sustainable private sector investment in priority sectors essential to development. The group of DFI leaders reiterated their support for an initiative first announced at the Carbis Bay G7 Summit last year that contributes to achieving the shared objectives of the DFI community to meet the infrastructure needs of low and middle-income countries.
The leaders also agreed to collaborate to deploy high-value standards, diversify sources of critical goods and supply chains, and maximize development impact through their investments. Convened by U.S. International Development Finance Corporation (DFC), the participating G7 and European DFIs included BII, DEG, FinDev Canada, CDP, Simest, Proparco, JBIC, JICA, Norfund, Swedfund, BIO, COFIDES, Finnfund, IFU, OeEB, SIFEM, and SOFID.
Each DFI brings its unique financial tools and mandate to this collaboration—offering emerging markets a powerful and diverse array of financing instruments to support economic growth. Shared priorities include climate, health, gender equality, and digital connectivity. Moving forward, the DFIs agreed to share collective progress in advancing private sector investment in these areas, tracking the transformative development outcomes this collaboration will yield.
“Working together, DFC, EDFI, and our partner development finance institutions will provide truly transformative financing, boosting private sector engagement in international development,” said DFC CEO Scott Nathan. “Collaboration with our partners will be key to our collective success in supporting innovative financing transactions that boost quality infrastructure in emerging economies.”
“We welcome the meeting of DFIs today to reiterate our shared international priority to meet sustainable infrastructure needs of low and middle-income countries. European DFIs greatly value the collaboration with DFC and other G7 DFIs, which will help us to increase the impact and visibility of our financing activities, and to unlock more private sector investment,” said Soren Andreasen, EDFI CEO.
U.S. International Development Finance Corporation (DFC) partners with the private sector to finance solutions to the most critical challenges facing the developing world today. We invest across sectors including energy, healthcare, critical infrastructure, and technology. DFC also provides financing for small businesses and women entrepreneurs in order to create jobs in emerging markets. DFC investments adhere to high standards and respect the environment, human rights, and worker rights. Visit www.dfc.gov and @DFCgov on Twitter to learn more.
EDFI is the Association of 15 European Development Finance Institutions (DFIs), which provide financing and advice to support sustainable private sector development in emerging and developing economies. 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. EDFI’s membership includes BIO (Belgium), British International Investments (UK), Cofides (Spain), DEG (Germany), Finnfund (Finland), FMO (The Netherlands), IFU (Denmark), Norfund (Norway), OeEB (Austria), Proparco (France), SIFEM (Switzerland), Simest and CDP Development Finance (Italy), SOFID (Portugal), and Swedfund (Sweden). Visit www.edfi.eu or the individual websites of EDFI member institutions to learn more.
Cassa Depositi e Prestiti (CDP) is the Italian National Promotion Institute. Since 2016, CDP has acquired the mandate of Financial Institution for International Development Cooperation, with the aim of promoting sustainable growth on a global scale. In this capacity, CDP carries out financing activities in emerging markets and developing countries on various sectors and themes, in order to promote “green”, sustainable and inclusive growth.
SIMEST is the company of the Cassa Depositi e Prestiti Group that supports the growth and competitiveness of Italian companies that operate abroad. SIMEST supports the companies throughout their international development cycle, from the first evaluation of opening in a new market to the expansion through foreign direct investments. The lines of activity are soft loans, equity investments and export support.