The European Business Council for Africa

The Council exchanged views on the Africa - Europe alliance for sustainable investment and jobs. The discussion took place less than a month before the high-level Africa-Europe forum (Vienna, 17-18 December) and the EU-AU ministerial meeting (21-22 January 2019).

Ministers expressed their support for the initiative and its four strands of action: improving the investment climate, de-risking, strengthening support for skills and education, and supporting economic integration and market-building. They discussed ways in which member states can be actively involved in this new Africa - Europe alliance and the importance of securing coordination and coherence on the ground.

As the EU remains Africa's main partner, ministers highlighted the need to ensure that both African and European stakeholders are more aware of the close relationship between the two continents.

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The Council has given the go-ahead to increased lending by the European Investment Bank to projects outside the EU that address migration issues.

It adopted the decision and regulation on 27 February 2018, following an agreement with the European Parliament on a mid-term review of the EIB's mandate for 'external' lending.

In total, the financing limit under an EU guarantee is increased by €5.3 billion. Of this, €3.7 billion are earmarked for projects in the public and private sectors providing a strategic response to the root causes of migration.

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EU kick-starts its new EU External Investment Plan

Following the adoption by the European Parliament and the Council, the European Commission immediately starts the implementation of its ambitious External Investment Plan to boost investments in Africa and the EU Neighbourhood.

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On September 2016, the European Commission drafted a proposal on the European Fund for Sustainable Developement (EFSD).

This proposal is currently discussed by the European Parliament and the Plenary Session will be on September 12th.

What is the External Investment Plan ? 





On May 15th, the Foreign Ministers discussed the situation in Africa but also the future of the EU-ACP relations.

The discussion will feed the preparation of the EU-Africa Summit in November.