EIB Global, the development arm of the European Investment Bank, has signed a new cooperation agreement with the Joint European Financiers for International Cooperation (JEFIC) to strengthen coordination among European development finance institutions.
The deal is a Memorandum of Understanding — a non-binding framework for cooperation — covering regular information exchange, joint discussions on project pipelines and more efficient co-financing, the European Investment Bank announced on Wednesday.
JEFIC is a network of national bilateral development banks and European financial institutions that work with public partners in developing countries and emerging economies, supporting private-sector mobilisation and local regulatory frameworks.
The agreement builds on existing cooperation tools such as the Mutual Reliance Initiative, which is used by European public banks to streamline how they work together on projects.
Signed in Rome alongside JEFIC meeting
The signing took place alongside a JEFIC High-Level Meeting hosted by Cassa Depositi e Prestiti in Rome, with leaders from major development banks attending, the European Investment Bank said.
“Stronger cooperation among European development financiers is essential,” EIB Vice-President Ambroise Fayolle stated.
The agreement “lays the foundations for a long-term partnership” for JEFIC, Dario Scannapieco, CEO of Cassa Depositi e Prestiti, said.
