The JEFIC members share a common vision for a truly joined-up European development finance system (alongside the PN-Practitioners’ Network, EDFI-European Development Finance Institutions, EIB-European Investment Bank and EBRD-European Bank for Reconstruction and Development) for increased, efficient investments towards the Sustainable Development Goals (SDGs). In addition, JEFIC plays an important role in leveraging the private sector and enhancing the local regulatory framework, acting as a “gateway” between public and private sector.
With a combined funding volume of more than €21 billion in 2022, the JEFIC network provides a substantial share of global financing for sustainable development and handles around one third of the funding generated through the EU’s blending and guarantee instruments. A local presence including more than 200 local offices in 85 countries ensures very close cooperation.
The signature of a JEFIC Joint Declaration in 2021 opened the door to new members and made a commitment to stronger cooperation at strategic and institutional levels, increased knowledge sharing, identification of common priorities and enhanced European coordination. BGK joined the JEFIC network in March 2023.
Working towards a new level of integration and service performance
JEFIC members share strategic objectives and operational opportunities to identify common financing activities. These activities are implemented jointly under the Team Europe Initiatives (TEIs) and Global Gateway, covering multiple target countries and sectors to achieve the Sustainable Development Goals (SDGs). JEFIC members are currently contributing to 127 TEIs, at national, regional and global levels, and contribute to major Global Gateway flagships. For instance, JEFIC is involved in the deployment of the TEI Invest in Young Businesses in Africa, which aims at helping early stage businesses and young entrepreneurs and at creating decent jobs. Moreover, JEFIC members are supporting less mature market segments through local banks and through Public and Private Partnerships, bridging the gap between public and private sector.
JEFIC members are pooling their respective strengths to put their broad collective expertise to best use and provide a wide and varied range of services and support. Their goal is to ensure that the diversity of “Team Europe” will work as an advantage for beneficiaries, partners and international donors creating, in particular, a point of access to a broad pool of European know-how and financing power.
With this in mind, JEFIC remains an open and inclusive partnership ready to include other bilateral actors within the European financial architecture for development who are willing to join the network.