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Policy brief · Pathways for Development

Unlocking DFI-ECA Collaboration for Clean Energy Finance: Diagnostics and Pathways to Improvement

Why do development finance institutions and export credit agencies so rarely finance clean energy together, and what would change that?

Samantha Gonsalves Wetherell, Andreas Klasen, Sam Fankhauser, Anupama Sen and Mathias Weidinger · Smith School of Enterprise and the Environment, University of Oxford, Policy Brief SSEE-PB-1/26 · January 2026

Abstract

Development finance institutions (DFIs) and export credit agencies (ECAs) have complementary mandates, instruments and risk appetites for scaling up clean energy finance in emerging markets and developing economies, yet joint transactions remain rare and largely ad hoc. Drawing on 16 interviews with senior practitioners, the brief proposes a three-barrier diagnostic: regulatory friction between the OECD Arrangement and ODA/DAC rules, institutional incentive misalignment between the ministries and metrics the two institution types answer to, and information asymmetry among sponsors and deal teams. It maps four targeted pathways to these barriers: a practical collaboration framework with model intercreditor arrangements and pre-cleared tranche structures, a curated case library hosted by the OECD or the Berne Union, country-technology pilots, and joint KPIs with shared mobilisation credit. Case studies from Kenya (Lake Turkana), Senegal (Taiba N'Diaye) and Angola illustrate concurrent and sequential DFI-ECA co-financing.

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