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Tuesday, 13 December 2016

European Fund for Sustainable Development (EFSD)

The Commission took the opportunity provided by the September 2016 mid-term review/revision of the MFF 2014-2020 to propose the creation of a new innovative financial instrument – the European Fund for Sustainable Development (EFSD). The EFSD is part of the partnership framework for cooperation with countries with high irregular emigration and is one of the pillars of the new external investment plan, inspired by the success of the investment plan for Europe. The proposed fund aims to mobilise EU grants to catalyse investment from public and private sources to tackle the root causes of migration in the European neighbourhood and Africa, while helping to achieve the 2030 Agenda Sustainable Development Goals. Some NGOs have voiced concern regarding the migration compacts themselves, and the proposal for the new fund, fearing the use of development policy resources for migration management purposes and in pursuit of European private sector interests.

Source: European Parliament