Today the European Parliament joint committee voted on its position on the European Commission’s proposal for a European Fund for Sustainable Development.  The fund is part of the European External Investment Plan, which aims to mobilise private investment in Africa and foster economic growth.

Valentina Barbagallo, Brussels Policy & Advocacy Manager for ONE, said: “We welcome the Parliament’s position, which adds a much needed focus on the poorest and most fragile countries. With Africa’s population set to double by 2050, ambitious scaled investments are required in the most vulnerable countries to ensure that youth have the education and jobs they need to support their local communities. Today’s vote is a positive step in this direction however the plan will only succeed if the Fund translates into local jobs. This is why we urge Member States to match the Parliament’s level of commitment during the upcoming trilogue negotiations.”

***ENDS***

Notes to Editors

ONE is calling for the EFSD to :

• Allocate sufficient funds to impact investments in African Least Developed Countries (LDCs) and fragile situations;

• Ensure funds are exclusively used on projects that would not have otherwise attracted the private sector so to avoid local markets distortion;

• Develop specific tools to de-risk investment and foster healthy business environments that promote better governance and stronger national institutions;

• Ensure that local actors benefit from private sector investment by funding investments specifically targeted at supporting local actors.

European Fund for Sustainable Development – Read more

ABOUT ONE: ONE is a campaigning and advocacy organisation of nearly 8 million people taking action to end extreme poverty and preventable disease, particularly in Africa. Not politically partisan, we raise public awareness and press political leaders to combat AIDS and preventable diseases, increase investments in agriculture and nutrition, and demand greater transparency in poverty-fighting programmes. Read more at www.one.org.

For media queries please contact: Valentina Barbagallo, Policy & Advocacy Manager, Brussels [email protected], +32 471 23 92 68