European Financing Partners (EFP), a joint venture between the European Investment Bank (EIB) and several European DFIs, is a co-financing vehicle established in 2003 aiming at promoting sustainable development of the private sector and strengthening co-operation between eligible European Development Finance Institutions and the EIB. The EFP provides financing to countries included in the OECD DAC list.
EFP’s operational structure is characterised by an efficient and fast track process. As a result, EFP‘s annual operational costs amount to only €40,000. One outstanding example of how well this can work involves the processing of a large telecommunications project in less than two months from first application to disbursement. In December 2016, EFP was replenished with €190 million.
An independent evaluation (Dalberg, 2012) of EFP-financed energy projects in sub-Saharan Africa showed that the EDFI provided finance on terms unavailable from commercial lenders, as well as key advisory support.
A total of 37 projects at a value of €476m have been approved by EFP at the end of 2nd quarter 2017 in Kenya, Benin, Sierra Leone, Malawi, Mauritius, St. Lucia and Haiti, a.o. A broad range of sectors are served, the main ones being industry, financial intermediaries, communications, agribusiness and power, with investments also in the transport, health and hotel sectors .