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Development Policy

Video guest: Josephine Mwangi

November 2018
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EDITO
Wednesday, 14 November 2018

The EU’s much vaunted private investment vehicle in Africa has moved a step closer to becoming reality after €800 million was unlocked to leverage multi-billion euro investments on the continent. At a meeting on July 10, the board of the European Fund for Sustainable Development gave its green light to a package of financial guarantee programmes worth around €800 million as part the bloc’s External Investment Plan (EIP).

As part of its External Investment Plan, the EU gave its green light to a package of financial guarantee programmes worth around €800 million on 10 July. This will help to leverage an estimated €8-9 billion in public and private investment in Africa and the Neighbourhood. Yesterday's decision is a major milestone towards delivering investments in Africa and the Neighbourhood through the EU's External Investment Plan (EIP), which is expected to leverage €44 billion of investments through an EU contribution worth €4.1 billion.

Ms Isabelle Grunderbeeck, the Regional Representative for West Africa of European Investment Bank (EIB), says the bank plans to invest 700 million euros in some identified projects in Nigeria. Grunderbeeck disclosed this at the bank’s interactive meeting with its clients and other stakeholders in Abuja on Tuesday. She said that the planned investment was in addition to the fund already committed to the Nigerian economy.

Next week will be a crucial time for the French Development Agency (AFD) as it will be signing a three-year grant worth R14.5-million (€950 000). This will be its first investment in digital innovation in South Africa. The money will go into funding Digital Content Hub of Tshimologong Digital Innovation Precincts. Based in Braamfontein, Digital Content Hub will be launched on 9th July 2018.

On 11 July 2018, EU ambassadors agreed the Council's position on the 2019 EU draft budget in advance of negotiations with the European Parliament. In total, the Council foresees €164.1 billion in commitments and €148.2 billion in payments for next year’s budget. Compared to 2018, this is a +2.09% increase in commitments and +2.34% increase in payments. Hartwig Löger, Austrian Federal Minister for Finance declared ''The Council has continued to pursue a balanced approach to the annual budgetary process.

Thursday, 12 July 2018

Political relations The EU, together with Somali authorities and international key partners, is engaged in Somalia through an integrated approach based on active diplomacy, support for political change, improving security, development assistance and humanitarian aid. For the period 2015-2020, the cooperation of the EU and the Member States amounts to more than €3.5 billion, and includes development aid, humanitarian aid and peacekeeping operations.

Wednesday, 11 July 2018

As the Sahel region experiences its worst food and nutrition crisis in five years and continued insecurity, the Commission has announced a humanitarian aid package worth €191.3 million. "There is no time to waste with many affected by a worsening food security crisis in the Sahel. Our EU aid will throw a lifeline to the most vulnerable.

Tuesday, 10 July 2018

"The EU must strengthen its action in Angola and, more in general, in Africa,’’ said European Parliament President, Antonio Tajani, following today’s meeting with the President of Angola, João Lourenço. "In the next Multilateral Financial Framework - added Tajani – EUR 40 billion should be earmarked for a comprehensive Marshall Plan for Africa that helps mobilise overall investment worth EUR 500 billion in the next ten years on the continent."

Today in Luxembourg, the European Investment Bank (EIB) is hosting the Asociación Latinoamericana de Instituciones Financieras para el Desarrollo (ALIDE), the international organisation representing development banking in Latin America and the Caribbean.

Friday, 06 July 2018

Mr. Denys Gauer,the French Ambassador to Nigeria, has high hopes that France through its Development Agency will explore areas of collaboration with Nigeria through Contec Global Agro limited (CGAL), a subsidiary of Contec Global for the development of organic agriculture production.