EFSD: investing in sustainable development to fight poverty and emigration

The European Parliament, meeting today in plenary session in Strasbourg, endorsed a regulation establishing the European Fund for Sustainable Development (EFSD), an external investment fund that is expected to boost 44 billion euros of investment in the private sector in Africa and in the neighbourhood by 2020, with an EU guarantee of 3.3 billion euros. The aim is to address the root causes of migration and advance sustainable development. This new instrument is intended for the African countries with which the EU has concluded partnerships on migration as well as to neighboring countries such as Lebanon or Jordan. However, a minimum of 28% of investments will be used to support the climate action and to contribute to the implementation of the Paris Agreement.
Anneli JÄÄTTEENMÄKI (Finland, Suomen Keskusta), spokesman for ALDE on this issue from the Parliamentary Committee on Budgets, said: „I am very happy that our push for ambitious goal for climate relevant investments was incorporated in the EFSD regulation. Unfortunately in the future the stability of Europe will be more and more tied to the problems that the climate change causes in our neighbourhood. Therefore we have to fight climate change together with our partners.”

Beatriz BECERRA (Spain, Independent), spokesman for ALDE from the Parliamentary Development Committee, added: „The creation of the European Fund for Sustainable Development is a good news. By supporting investments in Africa and the Union’s neighbourhood it will help achieve our goals for Sustainable Development, which can only be achieved if we set a concrete timetable, goals and actions”.
Urmas PAET (Estonia, Eesti Reformierakond), spokesman for ALDE from the Foreign Affairs Parliamentary Committee, concluded: “Europe is going through a number of crises, one of them being migration. It is clear that in order to find a solution, we need to tackle the root causes of it. This is why we need the European Fund for Sustainable Development. Among other things, the EFSD will encourage investment in conflict-affected areas and fragile states, which is a crucial way in addressing the issues in the long term”.