Annexes to COM(2018)644 - Towards a more efficient financial architecture for investment outside the EU - Main contents
Please note
This page contains a limited version of this dossier in the EU Monitor.
| dossier | COM(2018)644 - Towards a more efficient financial architecture for investment outside the EU. |
|---|---|
| document | COM(2018)644  |
| date | September 12, 2018 |
Art 26(5) of Proposal a for Regulation of the European Parliament and of the Council establishing the Neighbourhood, Development and International Cooperation Instrument, COM(2018) 460 final of 14.6.2018 and Article 212 of Regulation (EU, Euratom) 2018/1046 on the financial rules applicable to the general budget of the Union, OJ L193, 30.7.2018, p.1. Article 27(5) of Proposal a for Regulation of the European Parliament and of the Council establishing the
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A reinforced architecture for the European Union’s external investment
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Projects
4. Conclusions
The many investment challenges and opportunities in Africa, the EU Neighbourhood and other parts of the world cannot wait. They require that the EU focuses its actions and uses existing EU instruments, institutions and actors as efficiently as possible, in pursuit of the Union’s political and policy goals and objectives. While there is merit in reflecting on more structural and fundamental reforms in the longer-term perspective, the Commission is of the view that action in the short-term should focus on rendering the existing system as effective and operational possible.
To this end, the following priorities and actions have been identified:
- All European partners are invited to strengthen their cooperation with a view to contributing to the realisation of the Union’s external action policies, in full coherence with the Union’s political goals and strategic interests.
- All relevant partners are invited to accelerate the implementation of the External Investment Plan. Awareness of the Plan will be raised by targeted outreach actions.
- While recognising the privileged role of the European Investment Bank as the EU Bank, the EIB-Group and the European Bank for Reconstruction and Development, together with other actors – as appropriate – are invited to explore further synergies, for example in the form of a joint initiatives with specific purposes, in the framework of the ongoing implementation of the External Investment Plan and the future Neighbourhood, Development and International Cooperation Instrument.
- The European Parliament and the Council are invited to agree on the main parameters of the proposal for a Neighbourhood, Development and International Cooperation Instrument in the framework of the next Multi-annual Financial Framework.
- A reinforced European financial architecture for the European Union’s external financial investment should be put in place for its implementation.
- A cooperation mechanism should be put in place, ensuring that the positions of EU Member States are better coordinated in the European Bank for Reconstruction and Development in particular.
Building on the useful reflections in early 2018, the Commission will convene in October 2018 all relevant actors, including Member States, development finance institutions and other stakeholders, with a view to operationalising as rapidly as possible the abovementioned priorities, without prejudice to the ongoing legislative procedure on the Neighbourhood, Development and International Cooperation Instrument or wider reflections on the long-term European financial architecture for development.