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Development Policy

Video guest: Josephine Mwangi

March 2019
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EDITO
Saturday, 23 March 2019

The first round of formal negotiations between the ACP Group of States and the European Union kicked off this afternoon (18/10/2018) at the ACP House in Brussels. The ACP's chief negotiator, Professor Robert Dussey, Minister of Foreign Affairs, Cooperation and African Integration from Togo was present for this symbolic occasion.

The European Council adopted conclusions on external relations, focusing on the EU's relations with Africa. Leaders agreed that cooperation should be taken to a new level, underpinned by the necessary resources, including through the European External Investment Plan and the EU Trust Fund for Africa.

Federica Mogherini, High Representative of the Union for Foreign Affairs and Security Policy, attended the EESC plenary session on 17 October 2018, engaging in a debate with members on the main external threats and challenges for the EU. EESC President Luca Jahier, highlighted the important role played by the EU as a major humanitarian aid donor, but also recalled that "civil society organisations are willing to be part of this effort".

Friday, 19 October 2018

The Yield Uganda Investment Fund has given Shs 5.14 billion to Central Coffee Farmers Association Ltd (CECOFA), a farmer-owned primary coffee processor. According to Yield, the fund is on schedule to close a further two agri-business investments over the remainder of the year 2018. This is the second investment by Yield Uganda Investment Fund, set up with financing from the European Union (EU) through the International Fund for Agriculture Development (IFAD) and National Social Security Fund Uganda (NSSF).

A €90 million loan was allocated on 8 October to SIFCA to finance the agricultural investments of its subsidiaries. Proparco organised the loan with co-financing from its Dutch counterpart, FMO, and Société Générale. The project is supporting the growth of a major agro-industrial player and will thereby contribute to the economic and social development of the region.

Funds totaling €36.7 million have been awarded by Germany’s development bank KfW and the European Union. The project is set to be located in Boundiali, in the northern part of the Sub-Saharan country. Germany’s development bank, KfW signed two contracts yesterday with the Ministry of Economy and Finance of Ivory Coast for the financing of a 37.5 MW PV project in Boundiali Department, in the northwestern part of the Ivory Coast.

Sub-Saharan African economies are still recovering from the slowdown in 2015-16, but growth is slower than expected, according to the October 2018 issue of Africa’s Pulse, the bi-annual analysis of the state of African economies by the World Bank. The average growth rate in the region is estimated at 2.7 percent in 2018, which represents a slight increase from 2.3 percent in 2017.

Negotiations to determine the new framework between the ACP group and the European Union will take two years. Togolese Foreign Minister Robert Dussey spells out the process, and what is at stake in these meetings, which are crucial to the future of both sides. (Interview by Guillaume Will-Raynal) On behalf of Togo, you are chairing the negotiations that will lead to a new ACP-EU partnership agreement to replace the Cotonou Agreement.

Thursday, 18 October 2018

The EU and Somalia signed on 14 October an agreement to provide €100 million to the Somali budget over the next two and a half years. These funds will support the Federal Government's reforms to build a unified, federal state. Somalia is on a positive track towards stability and growth. The EU's move to budget support is a token of the partnership with Somalia to develop a viable federal system and fostering long-term recovery.

Wednesday, 17 October 2018

At their monthly meeting in Luxembourg earlier today the Board of the European Investment Bank (EIB) approved backing for EUR 6.67 billion of sustainable transport, urban development, water, clean energy and private sector investment across Europe and Africa. Companies across Europe and around the world will benefit from EUR 2 billion of new direct financing and support for investment through local partners.