ADFIAP, EDFI Explore Business Cooperation

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ADFIAP and the Brussels-based, 15-member European Development Finance Institutions (EDFI) met in Singapore on September 17, 2006 to explore business cooperation between the two regional associations.

ADFIAP and EDFI were both represented by their Chairmen and Secretaries General, namely, Ambassador Jesus P. Tambunting and Mr. Octavio B. Peralta and Dr. Winfried Polte and Mr. Jan Rixen, respectively.

Among the areas discussed was EDFI’s financing facility, the European Financing Partners (EFP). The EFP funds private sector projects in the ACP States (Africa, the Caribbean and the Pacific), proposed by any of the 13 EDFI shareholders. EFP finances up to 75% of such a proposal up to a maximum of €25 million, while the remaining 25% is financed by the EDFI member presenting the proposal. Under the 2nd tranche of funding agreed in Oslo in May 2006, another €175 million is made available through EFP. This is in addition to the €140 million made available under the 1st tranche.

ADFIAP aims to learn more about the EFP and how this member business cooperation ‘model’ can be replicated, if possible, by the Association and its member-banks.

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