During the World Bank Spring Meetings in Washington DC, EDFI signed a MoU establishing a DFI Alliance with its counterparts in Canada and the USA.
On 11 April, the European Development Finance Institutions (EDFI), signed a Memorandum of Understanding (MoU) with FinDev Canada and The Overseas Private Investment Corporation (OPIC), respectively the Canadian and US government’s Development Finance Institutions (DFIs).
Throughout the new ‘DFI Alliance’ the three institutions intend to better achieve the Sustainable Development Goals (SDGs). They will deepen the transactional, operational, and policy-related cooperation among bilateral DFIs.
The creation of the ‘DFI Alliance’ follows long-standing cooperation between bilateral DFIs and the recent step-up in the role of DFIs. While FinDev Canada was created in 2018, OPIC will become part of the new US Development Finance Corporation later this year.
“Tackling our greatest global challenges requires collective effort,” said David Bohigian, Acting President and CEO at OPIC.
“The new ‘DFI Alliance’ will help us tackle challenges that we cannot do as individual institutions. It will strengthen our efforts to reach the SDGs,” said Nanno Kleiterp, Chairman of EDFI.
“…Although progress has been made, we need to mobilize the private sector to achieve the SDGs and ensure nobody is left behind,” concluded Paul Lamontagne, Managing Director at FinDev Canada.
Read the MoU here.