On 24 January the European Commission i hosted a workshop in Brussels to further discuss the future financial architecture for investment outside the European Union. This followed its Communication on the subject of September 2018.
The meeting included representatives of EU i Member States, the European Parliament, the European External Action Service, the European Investment Bank, and EU development finance institutions.
The workshop was part of a process that seeks to lay the foundations for the closest possible cooperation in the next budgetary cycle between all stakeholders, whilst paying special attention to bringing in private sector financing.
Given the complex and fragile situation in many of the EU’s neighbouring regions and in Africa, the Commission wants to make sure that public resources are well spent and that the EU is equipped to deliver its external investment policy goals and meet the ambition of the newly proposed Neighbourhood, Development and International Cooperation Instrument in the next budgetary period.
The meeting discussed first lessons learnt under the EU’s current multi-annual financial framework (MFF), including the first ever agreement on an EIP-backed guarantee between the Commission and the corresponding lead financial institution, the Dutch development bank FMO. This was signed in Vienna in December 2018.
Participants also expressed their appreciation for the work undertaken so far to implement the EU External Investment Plan in earnest. They emphasised the need for independent risk assessment and discussed options for the future, including the merits of a cost-benefit analysis.
For more information