On 11 October 2019, the European Centre for Development Policy Management (ECDPM) and the Association of European Development Finance Institutions (EDFI) are organising a closed-door roundtable in Brussels to discuss the EU development architecture.
The European framework for external investment and financing development is evolving rapidly. Following the creation of the European External Investment Plan, the European Commission is proposing to expand it in an even more ambitious manner for the next multiannual financial framework (MFF), with a single open guarantee mechanism and an enhanced European Fund for Sustainable Development (EFSD+), as part of the proposed Regulation establishing the Neighbourhood, Development and International Cooperation Instrument (NDICI).
In parallel, the President of the European Investment Bank (EIB) proposed the establishment of a European Bank for Sustainable Development (EBSD), while the President of the European Bank for Reconstruction and Development (EBRD) is seeking to expand the role of the EBRD. To stimulate reflection on the respective roles of the EIB and EBRD, and more broadly on the challenges and opportunities for rationalising the European financial architecture for development, the Council has also mandated a Wise Persons Group with a view to recommend scenarios for its evolution.
Central to these developments are considerations related to more effectively leverage private finance for greater development impact, the critical role that development finance institutions and multilateral development banks can play, and the need for the European finance architecture to be more coordinated.
The roundtable will bring together representatives from EU member states, development finance institutions and multilateral development banks, the European Commission, the European Parliament and the Wise Persons Group.
This event is by invitation only.
Photo courtesy of Forgemind ArchiMedia via Flickr.