Submissions to Consultations
European External Investment Plan: CAN Europe assessment of proposals to mobilise investments in sustainable energy and cities
- Category: Submissions to Consultations
- Published: 16 May 2018
Late 2017, the European Commission established specific Investment Windows of the Guarantee fund in the European External Investment Plan. This will be the channel through which investments on specific issues and themes will be made. Together with NGOs, CAN Europe has developed and provided analysis and recommendations to the EU on how the Investment Windows can deliver on climate and sustainable development objectives.
In September 2016, the EU launched the European External Investment Plan (EIP) to encourage investments in Africa and European neighbourhood countries.
Its first pillar, the European Fund for Sustainable Development (EFSD) is a guarantee fund which seeks to encourage private investment in partner countries as well as in their implementation of the SDGs and the Paris Agreement. The Plan has two other pillars: Technical Assistance (Pillar 2) and Enabling Environments to improve the investment climate (Pillar 3). It was officially adopted by the EU and its Member States in September 2017.
The EIP is a significant tool as it is likely to establish an increased level of engagement in development and infrastructure in European neighbourhood countries, and it could set the benchmark for future financing in development cooperation and climate action in the next Multiannual Financial Framework.
The European Investment Bank (EIB) will be one of the key implementing facilities of the Fund, and serve in an advisory role which builds on its existing external lending policies.
Read our analysis and recommendations here: