JEFIC – Joint European Financiers for International Cooperation – is a network of European bilateral banks and financial institutions which collaborate with public sector partners in developing countries and emerging economies. The current members are AECID (Spain), AFD (France), BGK (Poland), CDP (Italy) and KfW (Germany). 

They share a common vision for a truly joined-up European development finance system, mobilizing public and private capital to sustain investments that contribute to the UN Sustainable Development Goals (SDGs). 

By combining the strengths of each of its members, JEFIC strives to ensure that the diversity of Team Europe will work as an advantage for the beneficiaries, partners and donors in international cooperation. 

In 2023 Bank Gospodarstwa Krajowego (BGK), the Polish development bank, joined JEFIC becoming the fifth member of the network. Taking over from KfW as first rotatory president from July 2022 to June 2023, AECID is leading JEFIC since July 2023 for a one-year period.

In March 2023, AECID, AFD, CDP & KfW signed the JEFIC Cofinancing Framework Agreement. It was first implemented in October 2023 with the joint AFD & KfW support to Fondo Mi Vivienda in Peru to sustain social housing. With this agreement, JEFIC members have confirmed their ability to set up an innovative finance mechanism allowing for improved efficiency and a better response to partners’ needs.