French and German development agencies strengthen partnership
The director of the French development Agency (AFD) and Joachim Nagel of KfW, the German state-owned development bank, signed a memorandum of understanding reinforcing the cooperation between the two development institutions. The agreement aims to double the level of co-funding and the number of staff exchanges by 2022-2023.
The partnership sealed between AFD and KfW also provides for closer collaboration on several levels, concerning strategy, operations, knowledge-sharing, and joint communication. Both organization will jointly work effectiveness of foreign assistance, the international climate agenda, the environment, and the reinforcement of the European cooperation system. The partnership also considers further cooperation on geographic priorities - Africa and the Sahel in particular - and near neighbours in the Caucasus and Balkans.