The EUR 280 million initiative has been designed to provide financial support to businesses and local financial institutions in emerging markets who are currently faced with economic challenges resulting from the Covid-19 pandemic. SIFEM has contributed EUR 8 million to this initiative, which will start operations later this month.
The EFP scheme was launched in 2003 as a co-financing vehicle aimed at promoting sustainable development of the private sector and strengthening co-operation between eligible European Development Finance Institutions (DFIs) and the EIB. EFP has demonstrated how financial support can be provided using an efficient and fast track process with low administrative overheads. EFP enables large-scale investment in developing countries to be supported while reducing the risk faced by individual DFIs.
“It is absolutely crucial that we support the responses to the Covid-19 pandemic by private sector companies in developing countries. This initiative – of which SIFEM is part – demonstrates the importance of joining forces in the face of unprecedent challenges,” said Jörg Frieden, SIFEM Chairman.
Contact: Simon Denoth, Obviam Communication Manager, SIFEM Head of Public Affairs, sdenoth@obviam.ch, +41 31 310 09 38
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