EIB-GDN Program in Applied Development Finance
GDN is partnering with the European Investment Bank (EIB) to study the impact of projects in African, Caribbean and Pacific (ACP) countries, under a new training and mentorship programme for local researchers. After training at EIB headquarters in Luxembourg the researchers will spend a year evaluating projects financed under the Bank’s Impact Financing Envelope. This will build skills and capacity in impact assessment in the regions and refine the understanding of EIB’s impact.
Addressing a gap, understanding impact
For project financiers, addressing social and environmental challenges often means having to manage higher operating and macroeconomic risks. As a result, many high impact projects cannot find the financing they need to become reality, even when they have the potential to be financially sustainable and to contribute to the Sustainable Development Goals. The EIB created the IFE to help address this gap, as a special window of the Africa Caribbean and Pacific (ACP) Investment Facility.
The fund targets projects in sectors, or using particular business models that deliver superior impacts for targeted populations, particularly at the “bottom of the pyramid”. Since 2014, 15 IFE projects have been approved.
The new partnership between GDN and EIB will deepen the understanding of the development impact of IFE operations and strengthen the Bank’s ability to target such impacts.
Training and mentorship
This ambitious new Programme in Applied Development Finance will provide training in impact assessment methodologies and relevant aspects of EIB operations to selected ACP researchers from leading universities at the EIB headquarters in Luxembourg. They will go on to spend a year evaluating selected IFE projects, under the mentorship of international evaluation experts and in cooperation with local universities and institutions in GDN’s network.
The EIB-GDN engagement will cover projects ranging across the sectors targeted by the IFE, such as telecommunications, financial inclusion, innovation and agri-business. The research is also expected to shed light on cross-cutting issues such as gender, climate change and migration.
About the EIB
The EIB is the European Union's bank. It is the only bank owned by and representing the interests of the European Union Member States. It works closely with other EU institutions to implement EU policy.
As the largest multilateral borrower and lender by volume, the EIB provides finance and expertise for sound and sustainable investment projects which contribute to furthering EU policy objectives. More than 90% of EIB activity is focused on Europe but it also supports the EU's external and development policies.