Devfin Advisers is a lead company in an on-going framework agreement with Sida (2018-2022) for Services and Advice within Development Finance. Under this agreement we have so far undertaken more than twenty assignments, including support in structuring government guarantees to international financial institutions such as EBRD, IFC, IDB, GuarantCo and NEFCO as well as foundations such as Frontier Clearing Fund Callable, the Universal Green Energy Access Program, the life science fund Adjuvant Capital and the impact investor Developing World Markets. Devfin has also assisted Sida in its support for renewable energy in Africa, for example in strategic analyses concerning Project Preparation Facilities and Green Mini Grid systems. Under the framework, a review has been carried out to strengthen Sida’s due diligence process for responsible investments with focus on risks related to money laundering, corruption and financing of terrorism. We supported Sida in capacity building concerning Theory of Change related to guarantees in the context of Sida’s multi-dimensional poverty policy framework. Swedish Embassies have used our services for structuring guarantees in Albania, Ukraine and Zambia.
In 2020 Devfin Advisers provided strategic support to the Nordic Development Fund for defining NDF’s position in relation to other Nordic bilateral development and climate financing institutions. The purpose was to elaborate on Nordic climate change related priorities relevant for NDF’s activities in renewable energy.
Devfin undertook an evaluation of Sweden’s long-term cooperation with Bosnia Herzegovina tendered by the Expert Group for Development Studies, an independent body linked to the Swedish Ministry of Foreign Affairs. The evaluation covered the Swedish support from 1995 to 2017 focussing on economic development, including finance and employment creation.
Devfin was part of a Sida/GIZ team developing an EU Action on innovation in the context of EU’s work in Albania. The work resulted in a Challenge Fund aimed at innovative SMEs and Innovation Support Organisations. Subsequently, we provided support during the implementation of the challenge fund 2018 – 2021 through assessment of short-listed proposals and managing bootcamps for the companies behind these to support the management of the Fund to select the most promising candidates.
We have carried out a 4-year project concerning Monitoring and Evaluation of Micro Finance (and related technical assistance) for Micro and Small businesses in Mozambique linked to a guarantee by Sida and USAID to a local bank for micro credits with focus on informal businesses and women entrepreneurs. The M&E process involved repeated quantitative and qualitative surveys with micro finance clients and relevant control groups to identify additionality of the credits in their business performance. The project was commissioned by the Swedish Embassy and implemented jointly with ICC, Mozambique.
During 2013–2018 Devfin Advisers was the lead company in the first framework agreement with Sida for Services and Advice within Development Finance under which we undertook over 40 assignments. These included a study on Innovative finance, mapping of innovate financing in Latin America and Europe, preparation of a guarantee to a global media fund, advice on a health innovative bond by a major Scandinavian bank, a study on financial options to support environmental friendly transport solutions, an institutional study of Sida’s involvement with the Global Resilience Partnership, a feasibility study on Results-based Financing in Fragile and Conflict affected Countries, and structuring of Sida support to crowdfunding platforms for off-grid energy in Africa. Furthermore, we provided support for guarantees and other forms of financial development in Afghanistan, Bangladesh, Bosnia-Herzegovina, Georgia, Kenya, Kosovo, Rwanda, Tanzania, Uganda and Ukraine.
Over the years Devfin Advisers have undertaking major evaluations of private sector development. These include an evaluation of DANIDA’s Business to Business program (B2B) undertaken jointly with Nordic Consulting Group pf Denmark; an evaluation of Austria’s private sector development, a meta-evaluation of the role and effectiveness of SECO’s cooperation in Private Sector Development – Business Environment Reform, and a systems evaluation of Norwegian Business-related assistance including support provided through the Ministry, Norad, Norfund, FK Norway and NGO implemented microfinance.
Devfin Advisers have acted as long-term help-desk to Sida in developing and supervising Sida’s Business for Development Programme (B4D), a programme with the purpose of creating partnerships with the private sector in Sweden and internationally to foster a pro-poor global development. Tasks including application of Bottom of the Pyramid concept in a programme called Innovation Against Poverty, setting up of a new Sida Public-Partnership programme, development of challenge funds and support in establishing a results-based management system for B4D.
Devfin Advisers support in trade development includes evaluation of aid for trade programmes implemented by Sida, the Norwegian Ministry of Foreign Affairs and SECO in cooperation with organisations such as the International Trade Centre, UNCTAD and WTO.
