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Mutual Reliance Initiative AFD – KfW – EIB Philippe Chedanne, AFD Brussels, 16 October 2009

Mutual Reliance Initiative AFD – KfW – EIB Philippe Chedanne, AFD Brussels, 16 October 2009. Context. Purpose : full reliance, in the context of cofinanced operations, through mutual recognition of procedures

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Mutual Reliance Initiative AFD – KfW – EIB Philippe Chedanne, AFD Brussels, 16 October 2009

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  1. Mutual Reliance Initiative AFD – KfW – EIB Philippe Chedanne, AFD Brussels, 16 October 2009

  2. Context • Purpose : full reliance, in the context of cofinanced operations, through mutual recognition of procedures • Letter of Intent EIB-KfW-AFD (2005), joint works on project cycles in 2006-2007, new impulse at the end of 2008 • Incentives from EC to create more synergies with bilaterals ; EU agenda; ITF and NIF • Objectives: establishing a partnership to - promote joint financing of projects and programmes - further strengthen coordination and complementarity between each other - pursue as much as possible the delegation of tasks in order to + reduce transaction costs + enhance efficiency and effectiveness through division of labour

  3. Methodology - joint analysis of each other’s standards and procedures - assess to which degree they can mutually be relied on and applied - define minimum requirements where necessary - identify opportunities for delegating appraisal, implementation and monitoring tasks to each other in joint financing activities - testing Mutual reliance in a number of pilot projects - designation of a lead financier for each project

  4. The process • 2009: Launch of Mutual Reliance Initiative • pilot phase for 2 years (until Mid 2011) • establishment of working groups on procedures (e.g. legal aspects, • environmental/social standards, compliance, procurement) • selection of pilot projects (mainly MENA and SSA region) where • mutual reliance will be applied • in parallel: elaboration of mutually accepted minimum requirementsand operational guidelines

  5. Our Ambition • Simplify project appraisal procedures • Reduce transaction cost • Develop “best practice” for • division of labour • effective European Development Finance • which could be extended to other partners and donors (also non-European)

  6. Thank you for your attention!

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