At a conference in Rabat, Morocco, on 19 June 2018 the European Commission launched its External Investment Plan (EIP) which will encourage investments in Africa and the EU Neighbourhood region. It will promote inclusive growth, job creation and sustainable development and thereby tackling some of the root causes of irregular migration.
Opening remarks were given by Commissioner Johannes Hahn through a video message and Mr Mohamed Boussaid, Minister of Economy and Finance. Michael A. Köhler, Director for the Neighbourhood South in DG NEAR, gave a keynote presentation on the main features and innovations of the EIP.
The conference brought together more than 102 participants from national authorities, business communities, private sector companies, partner International Financial Institutions (IFIs) and other stakeholders. They discussed investment opportunities, financing barriers and potentials related to Morocco, in some of the specific priority sectors covered under the EIP, including Sustainable Cities and Micro, Medium, and Small enterprises sectors.
The EIP's goal is to mobilise, by 2020, €44 billion in private and public investment for sustainable development, creating new businesses and decent jobs. By combining existing and well-established EU blending facilities with a new, additional guarantee and putting them under one coherent framework this creates a “one-stop shop” for public and private investors. This will allow partners to find swiftly the most appropriate funding and ensure that projects are implemented which create jobs and contribute to sustainable development.
29 June 2018