Press Release

New fund to mobilise €44 billion to fight root causes of migration

Strasbourg
, 06.07.2017 - 12:21
West African market scene

Members of the European Parliament gave the green light today for the European Fund for Sustainable Development, an EU scheme of €3.3 billion worth of loans and guarantees aimed at mobilising €44 billion in private investment in risk areas, mainly in Africa, intended to tackle root causes of migration.

“This is an important milestone in our approach to development and migration. We are serious about creating sustainable growth and addressing the root causes of migration in Africa and in the European neighbourhood”, said Eduard Kukan MEP, the Rapporteur. “The Fund for Sustainable Development is an innovative instrument mobilising investments, increasing access to financing and stimulating the private sector in the partner countries. We want to improve the investment climate, encourage growth and bring more job opportunities, especially to the most fragile parts of our neighbourhood. In this sense, we have a vital tool to tackle development challenges and the root causes of migration”, he said.

“The instrument is flexible and tailored to the specificities of the private sector while meeting the requirements of our development assistance such as the principles of aid effectiveness or policy coherence - this is a major step forward”, highlighted Maurice Ponga MEP who supervised the proceedings of the Regulation in the Development Committee. “The private sector has a key role to play in development by creating wealth and jobs, thus contributing to addressing the root causes of irregular migration”, he added.

"We must tackle migration flows from Africa by resolutely combating the causes in those countries from which migrants are fleeing. This cannot be done solely through public funds, but by more flexible and adaptable instruments that trigger private investment in Africa”, concluded Paul Rübig MEP who supervised the Regulation in Budgets Committee.

Note to Editors
The EPP Group is the largest political group in the European Parliament with 215 Members from 27 Member States

MEP Contacts

-
Eduard KUKAN
STR - Phone: +33 (0)3 88 175216 Fax: +33 (0)3 88 179216
Email: eduard.kukan@europarl.europa.eu
-
Maurice PONGA
STR - Phone: +33 (0)3 88 175256 Fax: +33 (0)3 88 179256
Email: maurice.ponga@europarl.europa.eu
-
Paul RÜBIG
STR - Phone: +33 (0)3 88 175749 Fax: +33 (0)3 88 179749
Email: paul.ruebig@europarl.europa.eu

Press Contacts

Atilla Agárdi
Slovak press
Phone: +32 475 750 272
Jean-Luc Feixa
French press
Phone: + 32 477 680 090
Daniel Köster
Austrian press; Communications Strategy
Phone: +32 487 384 784

Latest

Man a airport security checkpoint
26.07.2017 - 16:46

EU Court ruling confirms Canada PNR agreement

The European Court of Justice in Luxembourg has, in principle, approved the proposed EU agreement with Canada on the exchange of passenger name...
Mexico - EU flags
19.07.2017 - 17:13

EPP Group supports strengthening of EU-Mexico partnership

Members of the EPP Group Presidency are concluding their 3-day official visit to Mexico today. “We have had fruitful and inspiring...
Photo of EU-US map
17.07.2017 - 14:32

EPP Group Presidency on official visit to Mexico

This week, the EPP Group Presidency will be in Mexico on an official visit. From Monday to Thursday, a delegation composed of EPP Group Chair...
justice
13.07.2017 - 12:11

PiS government has crossed the red line of the rule of law

Manfred Weber MEP, Chairman of the EPP Group in the European Parliament, and Esteban González Pons MEP, EPP Group Vice-Chairman in charge of...

Highlights of the week

10.07.2017 - 14.07.2017
Smart Borders

Smart Borders: better control of travellers

A new electronic Entry-Exit System to register all non-EU citizens coming to the Schengen area for a short stay will be voted on in the Committee on...
hands - handshake

Providing support for stability and peace in third countries

On Tuesday, Members of the Foreign Affairs Committee will give the green light to the use of EU funds to help the security forces in third countries...
EPP Group October I Plenary Briefing

Chairman's agenda

Saturday: CSU Party congress, Viechtach/Bavaria Sunday: Participation in a panel discussion, University of Passau/Bavaria Monday: Participation...
Bogdana Depo