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2. Incentivising Investment in Human Capital through the European Fund for Sustainable Development
- Author:
- Mikaela Gavas and Samuel Pleeck
- Publication Date:
- 05-2021
- Content Type:
- Working Paper
- Institution:
- Center for Global Development (CGD)
- Abstract:
- As the EU prepares to significantly scale up its deployment of blended finance, guarantees, and other risk-sharing tools aimed at stimulating investment in developing countries, and, in the face of spiralling needs as a result of COVID-19, this paper analyses how the EU could use its development budget to incentivise private investment in human capital. The paper provides three contributions. First, it gives an overview of the allocation of the EU’s external investment to date. Second, based on interviews with stakeholders, it documents cases of private investment in health and education while exploring some of the barriers to a higher share of investment in these sectors by the EU and its development finance partners. Finally, it puts forward a set of proposals for how to steer greater European external investment through the European Fund for Sustainable Development Plus (EFSD+) toward human capital.
- Topic:
- Development, Regional Cooperation, European Union, Investment, Human Capital, and Sustainability
- Political Geography:
- Europe
3. The EU’s Financial Architecture for External Investment: Progress, Challenges, and Options
- Author:
- Hannah Timmis and Mikaela Gavas
- Publication Date:
- 01-2019
- Content Type:
- Working Paper
- Institution:
- Center for Global Development (CGD)
- Abstract:
- In 2017, the EU launched an ambitious programme of investment mobilisation in Africa and the Neighbourhood: the External Investment Plan (EIP). The EIP aims to increase the scale, impact, and coherence of EU-supported external investment by introducing various innovations to the European financial architecture, including a new guarantee mechanism and a unique “three-pillar” approach to investment support. The European Commission is proposing a significant expansion of the EIP under the EU’s new long-term budget, the Multiannual Financial Framework 2021–27, replacing the current plethora of investment tools and modalities with a single framework. This paper provides a comprehensive overview of the evolution of the EU’s complex external investment architecture. Based on interviews with stakeholders, it documents lessons learned during the EIP’s first year of implementation and proposes a series of options for the design and operationalisation of the new investment framework. To increase the additionality, development effectiveness, and efficiency of EU-supported external investment, it recommends that the European Commission improve the current architecture by providing greater policy steer to investors; increasing competition among institutions for investment support; clarifying linkages between the three pillars; setting clear guidance, fee structures, and standardised contractual terms; and strengthening management of investment tools.
- Topic:
- Regional Cooperation, European Union, Finance, and Investment
- Political Geography:
- Europe
4. The EU’s Financial Architecture for External Investment: Progress, Challenges, and Options
- Author:
- Hannah Timmis and Mikaela Gavas
- Publication Date:
- 01-2019
- Content Type:
- Working Paper
- Institution:
- Center for Global Development (CGD)
- Abstract:
- In 2017, the EU launched an ambitious programme of investment mobilisation in Africa and the Neighbourhood: the External Investment Plan (EIP). The EIP aims to increase the scale, impact, and coherence of EU-supported external investment by introducing various innovations to the European financial architecture, including a new guarantee mechanism and a unique “three-pillar” approach to investment support. The European Commission is proposing a significant expansion of the EIP under the EU’s new long-term budget, the Multiannual Financial Framework 2021–27, replacing the current plethora of investment tools and modalities with a single framework. This paper provides a comprehensive overview of the evolution of the EU’s complex external investment architecture. Based on interviews with stakeholders, it documents lessons learned during the EIP’s first year of implementation and proposes a series of options for the design and operationalisation of the new investment framework. To increase the additionality, development effectiveness, and efficiency of EU-supported external investment, it recommends that the European Commission improve the current architecture by providing greater policy steer to investors; increasing competition among institutions for investment support; clarifying linkages between the three pillars; setting clear guidance, fee structures, and standardised contractual terms; and strengthening management of investment tools.
- Topic:
- Regional Cooperation, European Union, Finance, and Investment
- Political Geography:
- Europe
5. International Development Cooperation After Brexit
- Author:
- Mikaela Gavas
- Publication Date:
- 01-2019
- Content Type:
- Working Paper
- Institution:
- Center for Global Development (CGD)
- Abstract:
- Mikaela Gavas submitted written evidence to the United Kingdom's House of Lords EU External Affairs Sub-Committee on January 31, 2019. In her evidence Gavas answered questions about the future of UK-EU development cooperation after Brexit.
- Topic:
- Development, Regional Cooperation, European Union, and Brexit
- Political Geography:
- United Kingdom and Europe