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Thursday, 15 September 2016

European External Investment Plan (EIP) to encourage investment in Africa

The European Commission today proposed to set up a new European External Investment Plan (EIP) to encourage investment in Africa and the EU Neighbourhood, strengthen partnerships and contribute to achieving the UN Sustainable Development Goals. Announcing the initiative, EU High Representative Federica Mogherini, said: “If we look at the Middle East and Africa, we see regions with a huge potential that is being held back by war, poverty, the lack of infrastructure, and weak governance. Our European Union is already the first donor worldwide: we invest more in development cooperation than the rest of the world combined. But we also know that public resources cannot be sufficient if we want to untap this huge potential and achieve the sustainable development goals. “European firms are already creating jobs and growth in our entire neighbourhood and in Africa, for the benefit of our partners and of the European citizens. While creating the conditions for Europeans to expand their business and move into new countries, the new External Investment Plan will support our partners’ economies and societies, as well as our strategic foreign policy goals, from security to global development.”

Source: caperi.com