The Diplomat
The Spanish Agency for International Development Cooperation (AECID) has formally assumed the presidency of the Association of European Financial Institutions for International Cooperation (JEFIC), a network of European-level bilateral banks and financial institutions that collaborate primarily with public sector partners in developing countries and emerging economies. AECID thus takes over, for one year, from the German Development Bank (KfW).
Founded in June 2022, the objective of this Partnership, currently comprising AECID (Spain), AFD (France), BGK (Poland), CDP (Italy) and KfW (Germany), is to pool their respective resources and mobilize capital, both public and private, to increase and make more effective investments aimed at the Sustainable Development Goals (SDGs). Together they have a total of 134 billion euros worth of programs, with 5,500 employees in 200 offices in 85 countries.
According to the AECID, the handover was made official at an event held in Brussels on June 28 at which JEFIC partners and the various permanent representations of the countries that make up the Association met to exchange perspectives on development policy within the EU and its implementation. At the meeting it was also agreed to deepen the joint operational work between JEFIC members through biannual meetings, the first of which is scheduled for the last four months of 2023 with representatives of the member states.
