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News 2 mins Read 31 May 2024 Brussels

Launching 2023 AgriFI and ElectriFI Reports 

cover page of annual reports2023

I’m pleased to announce the launch of 2023 Annual reports for AgriFI and ElectriFI. 

We’re committed to driving inclusive growth by empowering entrepreneurship in frontier markets. Our work encompasses direct investments in innovative business models, de-risking ventures in high-risk markets and through it supporting European DFIs in key sectors like agriculture and clean and affordable energy. 

The 2023 AgriFI report showcases the impact of this EU-funded initiative on smallholder farmers, a critical sector often overlooked by traditional financial institutions. Through its value chain approach, AgriFI provides financing solutions tailored to their specific needs, fostering financial inclusion and market integration. 

We are particularly proud of the following achievements: 

  • Almost 2 million Smallholder farmers impacted by AgriFI investees: AgriFI has directly supported nearly 200,000 smallholders, empowering them to increase productivity and improve their livelihoods.  
  • Unlocking Additional Investment: Our €41.7 million portfolio in 15 companies leveraged an impressive €117 million in additional investments, demonstrating a strong leverage factor of 2.8X. 

ElectriFI, another EU-funded initiative managed by EDFI MC, tackles a different but equally pressing challenge – access to clean energy in developing countries. ElectriFI facilitates private sector investment in high-risk markets and fragile situations. This approach unlocks the potential for sustainable energy solutions to reach a wider population. 

The 2023 ElectriFI report highlights these key results: 

  • 12 million beneficiaries with access to clean energy attributed to ElectriFI funding: ElectriFI’s investments have had a transformative impact, reached 12 million people and improved their access to reliable, affordable energy. 
  • Catalyzing Investment for the Future: The total portfolio of €128.6 million invested across 49 companies has triggered an additional amount of €418 million in commitments from third investors, that is a leverage factor of 4.2X. 

These reports paint a clear picture: AgriFI and ElectriFI are making significant strides towards a more inclusive and sustainable future for developing countries. By empowering smallholder farmers and expanding clean energy access, we are paving the way for positive change. 

I am grateful to the European Commission for the support and proud of the dedication and expertise shown by our teams at EDFI MC and our partners. These results are a testament to the power of innovative financial solutions and impactful partnerships. We look forward to continued progress in the years to come. 

Rodrigo Madrazo Garcia de Lomana 

Chief Executive Officer,  

EDFI Management Company 

download: AgriFI Annual report 2023

download: ElectriFI Annual report 2023

*EDFI MC is grateful to FMO for its support through activating its EC Pillar Assessment for the benefit of AgriFI and ElectriFI.