The new commission is right in saying that the EU needs renewed ambition and a comprehensive strategy for Africa. But to do that, it will need to be clearer and convincing.

Source: euobserver.com

The EU’s ambassador to the African Union warns the UN Sustainable Development Goals for 2030 cannot be met due to low aid contributions by EU member states – poor countries instead need to attract their own financial flows through trade.

Source: euobserver.com

The Tony Elumelu Foundation in March selected 3,050 entrepreneurs for its 2019 cycle.

Source: www.premiumtimesng.com

Leveraging private finance Want to share this page? Use our short URL ecdpm.org/finance. Development challenges require substantial amounts of finance that scarce public resources alone will not be able to provide. In line with the 2030 Agenda and its Sustainable Development Goals (SDGs), both governments and multilateral institutions are looking increasingly at opportunities to use aid and public finance in a ‘smarter way’. To do so, they strategically use development banks and finance institutions to leverage private investments by mitigating risk and providing appropriate incentives towards potential investors. By blending public and private resources, the overall available amount of funding can be significantly increased to have greater development impact, while potentially allowing to take more risk and promoting investments in countries and regions, where private investors and companies alone would not go. In this regard the role of development banks, as well as development and international finance institutions (DFIs and IFIs), is crucial. They can not only improve the amount and quality of projects and the capacity of local partners but also build a pipeline of projects (e.g. in agriculture or energy). This, in turn, can help attracting investments by philanthropic, institutional and other private investors. Using technical assistance and policy dialogue in combination with a variety of financial instruments further helps to shift from pure grant funding towards blended finance, to promote sustainable investments that are both financially viable and have a high development impact: ECDPM has been and will be supporting such efforts by brokering knowledge, providing policy analysis, and facilitating dialogue among relevant stakeholders and policy-makers. This is our contribution to enhance the overall financial instruments’ and actors’ complementarity, effectiveness, transparency and coherence as well as point to challenges and opportunities in their implementation. Would you like to know more about our work on policy coherence or share your thoughts? Get in touch with San Bilal, Sebastian Große-Puppendahl or Karim Karaki. For media enquiries, please contact Virginia Mucchi. Publications The European External Investment Plan: Challenges and next steps for a game changer (Briefing Note 102) San Bilal and Sebastian Große-Puppendahl, Briefing Note 102, March 2018. What is the European External Investment Plan really about? (Briefing Note 101) Sebastian Große-Puppendahl and San Bilal, Briefing Note 101, March 2018. EU financing and private investments: Time for a quantum leap San Bilal, ECDPM blog, 5 February 2018. The EU’s financial instruments for access to energy in sub-Saharan Africa (Discussion Paper 218) Sebastian Große-Puppendahl, San Bilal and Karim Karaki, Discussion Paper 218, November 2017. Can Africa and Europe jointly walk the talk on investment mobilisation? San Bilal, ECDPM blog, 27 November 2017. Au delà des discours : l’Afrique et l’Europe vont-elles mobiliser ensemble les investissements pour le développement ? [in French] San Bilal, ECDPM blog, 27 November 2017. The European External Investment Plan and sustainable development – don’t reinvent the wheel, just realign it Karim Karaki, Bruce Byiers and Sebastian Große-Puppendahl, ECDPM blog, 3 March 2017. Investment promotion for sustainable development: The roles of DFIs and export credit agencies (Discussion Paper 208) Sebastian Große-Puppendahl, Karim Karaki and San Bilal, Discussion Paper 208, December 2016. Blending 2.0: Towards new (European External) Investment Plans (Discussion Paper 207) San Bilal and Sebastian Große-Puppendahl, Discussion Paper 207, December 2016. The European External Investment Plan: more than old wine in a new bottle San Bilal, Column in Euractiv, 16 September 2016. The EIB’s innovative role in ACP countries under the Cotonou Agreement: Options beyond 2020 (Discussion Paper 196) San Bilal and Sebastian Große-Puppendahl, Discussion Paper 196, July 2016. Beyond aid in private sector engagement (Discussion Paper 187) Sebastian Große-Puppendahl, Bruce Byiers and San Bilal, Discussion Paper 187, May 2016.

Source: ecdpm.org

Brussels on July 10 announced plans to fund a package of financial guarantee programmes worth around €800m. The aim is for the programmes to leverage an estimated €8-9bn in public and private investment in Africa and the neighbourhood.

Source: www.europeaninterest.eu

A factsheet about the European Investment Plan, highlighting examples of projects already supported by the EU, which will be stepped up with the help of the External Investment Plan. The projects highlighted are: EFSE (Neighbourhood Window of the European Fund for South East Europe), the DCFTA Direct Finance Facility, the SME Finance Facility – Phase II, and the Eastern Europe Energy Efficiency and Environment Partnership E5P. The External Investment Plan builds on the European Commission’s experience in implementing regional investment facilities. Since 2008, the Neighbourhood Investment Facility has used €2 billion in grants to leverage more than €16 billion from partner International Financial Institutions.

Source: www.euneighbours.eu

Ivana Stanojevic is a Programme and Investment Officer for the EU External Investment Plan (EIP). Here she shares her motivation to join the team working on the EU’s biggest investment programme for Africa and countries neighbouring the EU, the daily challenges she faces and her expectations for the future.

Ivana, who originally comes from Serbia, assesses programmes which development banks and other financial institutions propose to the Commission for funding under the EIP. She joined the EIP Secretariat in December 2017 after more than twelve years in the banking sector.

“Working on the EIP gives me an opportunity to further pursue my interest in EU policy and investment management. It also means I can contribute to the EIP’s mission to boost investments in Africa and the EU Neighbourhood,” says Ivana. “I want to add value and contribute to the management of the financial pillar of the EIP, the European Fund for Sustainable Development (EFSD). I believe the Plan will really help to reduce poverty, promote development in the countries that we work with, and promote good governance and respect for human rights.”

Source: ec.europa.eu

Ahead of the annual European Development Days, The Coca-Cola Company’s Bea Perez outlines the critical role she believes business can play in positively contributing to communities and the planet, and the importance of partnerships in achieving progress.

Why will you be attending the European Development Days (EDD) this year?

It’s going to be an honor to participate. We consistently see that the greatest impact is achieved through partnerships across what we call the golden triangle of government, private sector, and civil society. Organizations from each of these areas bring unique capabilities, connections, and expertise when they come together and work towards common goals. Forums such as the European Development Days are essential to that process in fostering debate, creating new connections, setting clear action plans for future collaboration, and openly sharing what we can learn from both successes and setbacks.

Source: www.politico.eu

The European Union launched a new External Investment Plan (EIP) in Tbilisi. Ms. Katarina Mathernova, Deputy Director-General of the Directorate General for Neighborhood Policy and Enlargement Negotiation is sure that the EIP will boost investment and support more inclusive and sustainable development in Georgia. The EU External Investment Plan is another sign of the strong commitment from the European Union to encourage economic growth through private and public investment in Georgia, says Ms. Mathernova. In her interview with Forbes Georgia, she openly speaks about alternative methods of business development in the country and provides details of other EU financial assistance. 

What is your overall assessment of the economic development in Georgia?

Overall our assessment is very positive. Georgia has taken on a lot of important reforms on quite a sustained basis and it seems that we are over the hump with regard to the negative impact of the developments in the region, as well as and the slump in trade with Russia. In following the developments in the region over the last several years, I think we are out of that period and also out of the period of developments in the European Union negatively effecting trade with its neighbors. Georgia grew significantly last year and the projections for this year are somewhere between 4.6 and 4.8 percent growth, which is excellent news. The other good thing is that the foreign direct investment has gone up.

Source: forbes.ge

The European Union and Morocco have launched the EU External Investment Plan (EIP) in the country to create a better business environment and foster economic development.

“The European Union is strongly committed to supporting Morocco in building a sound, inclusive and sustainable economy,” the European Commission said in a statement.

“Launched in September 2017 to help boost investment in partner countries in Africa and the European Neighborhood, the EIP will now encourage investments promoting an inclusive growth, job creation and sustainable development also in Morocco,” the EU said.

EIP “will help leverage significant private funds into key sectors of Morocco’s economy. The plan will in turn empower local entrepreneurs and create jobs in the country. This new and innovative approach will also help carry out big sustainable development projects,” said Commissioner for Enlargement Negotiations and European Neighborhood Policy Johannes Hahn.

The Plan will build on three pillars, the first of which is the new European Fund for Sustainable Development. Around “€4.1 billion in grants will be made available to support sustainable development in countries in sub-Saharan Africa and the European Neighborhood, as well as allowing public and private operators to leverage each other’s strengths.”

Source: aawsat.com