| Author (Corporate) | European Commission |
|---|---|
| Series Title | COM |
| Series Details | (2016) 586 final (14.9.16) |
| Publication Date | 14/09/2016 |
| Content Type | Policy-making |
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On 7 June 2016, the Commission adopted a Communication on establishing a new Partnership Framework with third countries under the European Agenda for Migration. Alongside a variety of measures proposed to address the most urgent needs of refugees as well as supporting host communities, the Commission calls for a long term strategy by which the EU will promote the sustainable development goals of the 2030 Agenda and thus continue to address root causes of migration. This is also in line with the EU Global Strategy for Foreign and Security Policy which embeds challenges such as migration in the overall EU foreign policy, ensuring coherence and synergies with European Development and Neighbourhood policies and European economic diplomacy. The European Council of 28 June 2016 invited the Commission to present a proposal for an ambitious External Investment Plan (EIP) by September 2016. The EIP will be based on three pillars working hand in hand: a new investment fund (pillar 1); technical assistance (pillar 2), to help local authorities and companies to develop a higher number of sustainable projects and attract investors; and finally a range of dedicated thematic, national and regional EU development cooperation programmes combined with structured political dialogue targeted at improving the investment climate and overall policy environment in the countries concerned (pillar 3). Pillar 3 of the EIP is the link between the European Fund for Sustainable Development (EFSD) and the broad partnership between the EU and its partner countries. This partnership materialises in political and in policy dialogue that the Commission undertakes through EU delegations and political contacts. Pillar 1 will be implemented through the EFSD. The EFSD will have the key objective of providing an integrated financial package to finance investments starting in the regions of Africa and the Neighbourhood. The EFSD will be composed of regional investment platforms, which will combine financing from existing blending facilities and the EFSD Guarantee. It will operate as a "one-stop shop" to receive financing proposals from financial institutions and public or private investors and deliver a wide range of financial support to eligible investments. |
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| Source Link | Link to Main Source http://eur-lex.europa.eu/legal-content/EN/TXT/?uri=COM:2016:586:FIN |
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| Subject Categories | Politics and International Relations |
| Countries / Regions | Eastern Europe, Europe |
