The EU and Member States are facing three crucial challenges when approaching development cooperation with partner countries: accomplishing real impact to comply with the 2030 Agenda, while becoming a stronger geopolitical actor. Where’s the added value of Global Gateway as an investment strategy and Team Europe as a solid approach?
European development actors are currently working on a roadmap to improve the European Financial Architecture for Development, making it more coherent, inclusive and impactful, while ensuring a strong EU policy steer. Private sector and Investment banks cannot ensure development effectiveness alone. Neither can MS cooperation agencies, MS governments or European institutions. This can only be achieved through tailor-made dialogue with partner countries and coordination between EU development actors.
Achieving the Sustainable Development Goals and tackling the causes and consequences of climate change requires much more cooperation between European financial architecture for development and civil society, panellists stated. It was also highlighted that Team Europe must help local actors to avail of European financing and that there is no ‘one size fits all’ solution. Moreover, marginalised communities and youth need to be connected with finance opportunities and smaller tranches of financing need to reach micro enterprises.