The European Bank for Reconstruction and Development (EBRD) and the Association of European Development Finance Institutions (EDFI) are joining forces to strengthen the impact of their work in addressing urgent and immediate recovery priorities as well as long-term challenges like climate change.
In a Memorandum of Understanding , signed today by EBRD President Odile Renaud-Basso and EDFI Chairman Bruno Wenn, in the presence of Koens Doens, European Commission Director-General for International Partnerships, and the leaders of five European development finance institutions (DFIs), the two parties commit to intensifying collaboration among European DFIs, with a strong private-sector focus.
Enhancing the means of cooperation and leveraging each other’s strengths in a complementary manner will create efficiencies and strengthen the impact, effectiveness and sustainability of joint engagements, the signatories said. This increased collaboration will benefit partner countries, clients and shareholders alike.
EBRD President Renaud-Basso said: “We are very proud to sign this accord today. It paves the way for deepening how we partner for impact with EDFI and the European development finance institutions as fellow members of a multi-pillar development architecture. As a multilateral institution with a European backbone, the EBRD stands ready to deploy its financial means, its expertise and the support of its shareholders to support sustainable and inclusive development. Together, we are stronger.”
“This agreement is a milestone in our collective effort to deepen collaboration between development finance institutions, including as part of the Team Europe effort,” said Bruno Wenn, Chairman of EDFI. “The commitments expressed represent the start of a journey that will deliver benefits for the EBRD and the European DFIs, for our stakeholders, and for clients in developing countries. It is also a journey that we encourage others to join us on.”
Please find the full MOU here below:
EDFI EBRD MOU (Execution Version for publication)