4th workshop with Private Sector in the framework of the PFD

The 4th Workshop with the Private Sector in the framework of the Policy Forum on Development (PFD) took place today at the Management Centre Europe, gathering representatives from the private sector, civil society organisations and the European Commission.  This year’s meeting was particularly dedicated to presenting the new initiative proposed by the European Commission in September 2016, the European External Investment Plan (EIP). 

The EIP aims to encourage investment in the EU’s partner countries in Africa and the EU Neighbourhood region, to strengthen the EU’s partnerships and contribute to achieve the Sustainable Development Goals, helping addressing some root causes of migration. Part of the EIP is the new European Fund for Sustainable Development (EFSD) as an integral financing mechanism to support investments by public financial institutions and the private sector. The EIP consists of three pillars: (1) the EFSD; (2) Technical Assistance and (3) Promoting a conducive investment climate.

The session further looked at one of the element of the third pillar: developing a Structured dialogue with business, including though the promotion of European and local business fora.  A concrete example of structured dialogue was given by the EU Delegation of Tanzania that already set up the EU Business Group (EUBG) in Tanzania in 2014. According to the EUD representative, “structured dialogue is critical for EU investment in African countries”. 

The second part of the worshop gave the floor to private sector representatives and the Africa Development bank, who gave their views on the EIP, stressing at the same time that a structured dialogue is essential as it can tackle the risk approach and that the third pillar particularly should help develop proper ecosystems locally.

Finally, Director Roberto Ridolfi, in his concluding remarks reminded that all concerned actors must be involved in the dialogue (including commercial financial actors) and that development values – creation of decent and sustainable jobs and respect of the SDGs are a conditionality of the EIP, which should also target primarily development of SMEs.