AECID, AFD, CDP and KfW Sign a Joint Declaration to Enhance the Effectiveness of EU International Cooperation Activities
Oct 21, 2021
The four European institutions AECID (Spain), AFD (France), CDP (Italy) and KfW (Germany) have today signed the Joint Declaration for a common coordination framework in development cooperation. The objective is to strengthen cooperation, coordination and dialogue among the actors of the European development finance system, maximising the effectiveness of investments in joint initiatives to support the achievement of the Sustainable Development Goals (SDGs).
The Joint Declaration represents the first building block in the creation of an innovative co‑financing platform aimed at establishing a more efficient and inclusive European financial architecture for development. Over the course of 2022, the four institutions will sign a Co‑financing Agreement that will define shared technical and financial operating procedures, serving as the legal foundation for future co‑financing initiatives.
The Declaration marks a commitment to enhanced collaboration at both strategic and institutional levels, enabling the maximisation of synergies in terms of knowledge sharing and identification of priority projects, strengthening coordination at the European level, catalysing resources to increase impact, and giving greater visibility to Europe’s action in international development cooperation.
With the signing of the Co‑financing Agreement, the four institutions will work together to identify initiatives of common interest. Key priorities emerging so far include Sub‑Saharan Africa from a geographical perspective, and several sectors—most notably energy (with a focus on renewables) and mobility.