A group of more than 25 development finance institutions (DFIs) including IFC - International Finance Corporation is scaling up cooperation in response to COVID-19. They have committed to provide and mobilize billions of dollars of funding to help the private sector deliver critical healthcare supplies, ensure micro, small, and medium businesses have access to capital, and strengthen global supply chains which sustain millions of workers in developing countries. 

To provide a structure for increased engagement, IFC has developed a new Joint Collaboration Framework Agreement (JCFA) that provides a framework to address a full range of collaborative activities among DFIs. Member Proparco and DEG are among the first signatories to the agreement, which offers guidance for upstream project development and preparation capacity with other DFIs and promotes greater reciprocity in project co-financing arrangements. 

Read the full statement here. (originally posted by Philippe Le Houerou, CEO at IFC)

Institutions participating are AfDB, ADB, AIIB, BIO, BSTDB, CDC Group, CDP, COFIDES, OeEB, EBRD, EDFI, EIB, DEG, FinDev Canada, Finnfund, FMO, ICD, IDB Invest, IFU, IFC, MIGA, NDB, Norfund, OFID, Proparco, SIFEM, SOFID, SBI-BMI, SIMEST, Swedfund.