The European Commission (EC) has launched the EU’s External Investment Plan (EIP) with which it hopes to promote sustainable development, employment and growth in African countries and in neighbourhood countries while also addressing the causes of migratory movements.
The EIP implements its investments through the European Fund for Sustainable Development which combines a Guarantee Fund of €1.5 billion with two regional investment platforms, the Africa investment facility and the Neighbourhood Investment Facility.
At present, the EIP has five investment windows through which accredited entities propose the creation and management of certain Investment Programs called PIPs (Proposed Investment Programmes). Companies can browse the EC website for information on the approval of PIPs .
For projects led by Spanish Cooperation, companies can present their projects directly to COFIDES and AECID. Otherwise, the EC has enabled a link (one-stop shop) on its website to enhance the involvement of the private sector and facilitate the presentation of projects.
These are the five windows that have been approved:
In order to receive financing through the EIP, projects must meet certain conditions:
- They must be carried out in Africa or in neighbourhood countries.
- They must contribute to economic and social development, with a special focus on sustainability and job creation (women and youth).
- They must properly distribute risk, be economically and financially viable, and socially and environmentally sustainable.
- The EU contribution must be additional.
For more information about the EIP and the approved PIPs, please go to the European Commission website.