WHO WE ARE
Joint European Financiers for International Cooperation (JEFIC) is a network bringing together national bilateral development banks and European financial institutions from five European Union Member States: AECID (Spain), AFD (France), BGK (Poland), CDP (Italy) and KfW (Germany). Together, these institutions work to promote sustainable growth in developing countries and emerging economies, primarily by operating with public sector partners. In addition, JEFIC plays a significant role in mobilising the private sector and strengthening local regulatory frameworks.
OBJECTIVE
JEFIC aims to contribute to the development of a more integrated and coordinated European development finance system. The network cooperates with European and international stakeholders in the field, including the European Development Finance Institutions (EDFI), the European Investment Bank (EIB) and the European Bank for Reconstruction and Development (EBRD), to enhance the effectiveness and coherence of European action, in line with EU priorities and the Sustainable Development Goals. The members of the network share strategic objectives and operational opportunities, jointly identifying common financing initiatives to be implemented across multiple target countries and sectors. The JEFIC network represents a significant share of global finance for sustainable development and manages approximately one third of the resources mobilised through EU blending and guarantee instruments.
In 2024, JEFIC mobilised EUR 18 billion through the joint action of its members, operating in 160 countries through a global network of professionals. This widespread presence makes it possible to integrate expertise, local knowledge and financial capacity, facilitating coordinated access to European development finance for partner countries. JEFIC is an open partnership, designed to grow and welcome new bilateral institutions willing to contribute to strengthening the European financial architecture. At the heart of this commitment are the Team Europe initiatives and the Global Gateway programme, which promote stronger connectivity and closer integration between the European Union and partner countries.
By pooling expertise and resources, JEFIC members leverage the network’s collective knowledge base, offering a broad range of services and support instruments. Significant contributions to Global Gateway and Team Europe initiatives demonstrate the network’s role in promoting sustainable investments in the climate, energy and transport sectors. JEFIC also supports the development of less mature markets by working with local banks and public‑private partnerships, and represents a pillar of Europe’s commitment to supporting structural change in partner countries, while at the same time creating new opportunities for the European economy.
An impressive example of this is the declaration of intent for closer cooperation between JEFIC and several Central Asian countries, which was signed in Brussels.
At the Global Gateway Forum held in Brussels in October 2025, JEFIC partners reaffirmed and deepened their commitment to key areas such as climate protection and sustainable energy supply through important agreements, thereby contributing to the strengthening of European interests and competitiveness, as well as to the long-term security of supply in Europe.
Key principles
Governance
As set out in the Joint Declaration, the Presidency is held on a rotating basis by the members for a six‑month or one‑year term.
AECID, the Spanish Agency for International Development Cooperation, is the main management body of the Spanish Cooperation, aimed at poverty reduction and sustainable human development. Its strategic roadmap, in line with Agenda 2030, is the 5th Master Plan for Spanish Cooperation, based on a human rights approach; it pays special attention to three cross-cutting issues: gender, environmental quality and respect for cultural diversity.
AECID’s toolbox includes technical assistance and financial cooperation, managed through FONPRODE (Fondo para la Promoción del Desarrollo, Spanish Fund for the Promotion of Development). Launched in 2011, it includes grants and loans, and implements both debt and equity operations
Agence Française de Développement (AFD) implements France’s policy on international development and solidarity. Through its financing of NGOs and the public sector, as well as its research and publications, AFD supports and accelerates transitions towards a fairer, more resilient world. AFD is part of the AFD Group, along with its subsidiary Proparco, which is dedicated to private sector financing and member of the EDFI network, and Expertise France, a technical cooperation agency and member of the Practioners’ Network. With our partners, we are building shared solutions with and for the people of the Global South. Our teams are at work on more than 4,000 projects in the field, in the French Overseas Departments and Territories, in 115 countries and in regions in crisis. We strive to protect global public goods – promoting a stable climate, biodiversity and peace, as well as gender equality, education and healthcare. In this way, we contribute to the commitment of France and the French people to achieve the Sustainable Development Goals (SDGs). Towards a world in common.
Bank Gospodarstwa Krajowego (BGK) is the Polish development bank with a mission to support sustainable social and economic growth of the country. BGK builds social capital, develops entrepreneurship and provides responsible financing by cooperating with business, public sector and financial institutions and responding to economic needs and undertaking initiatives promoting sustainable development. BGK has been actively engaged in building its development cooperation portfolio, i.e. by indirect management of the EU funds since passing the pillar assessment accreditation in December 2020.
Cassa Depositi e Prestiti (CDP) is the Italian National Promotional Institution that has been promoting the sustainable development of the country since 1850. It supports companies, finances infrastructures, promotes investments of the public administrations and it is a shareholder of leading Italian companies operating in strategic sectors. CDP is also the Italian Financial Institution for International Cooperation and Development Finance with the objective to promote sustainable growth initiatives in developing countries and emerging markets, by offering a wide range of financial products to public and private entities.
KfW is one of the world’s leading promotional banks. It uses its decades of experience to work on behalf of the Federal Government and the federal states of Germany to improve economic, social and environmental living conditions at home and abroad. KfW Development Bank is responsible for part of KfW’s international business, and the two group subsidiaries, KfW IPEX-Bank and DEG, are also involved. While KfW IPEX-Bank is active in international project and export finance, DEG finances and advises private companies investing in developing countries and emerging economies.
