In 2016, the EU and its Member States’ Foreign Direct Investment stock in Africa was worth EUR 291 billion
Our Goals
The EU and Africa are committed to boosting economic transformation and sustainable development. The key objectives are to create inclusive and sustainable growth and more and better jobs, especially for youth and women. This includes: developing the private sector and small and medium-sized enterprises; attracting responsible and sustainable investments; supporting intra-African trade, continental economic integration and the African Continental Free Trade Area (AfCFTA), notably through the implementation of the Programme for Infrastructure Development in Africa (PIDA); creating regional infrastructure for continental interconnection through the External Investment Plan of the European Union, an integrated instrument aimed at mitigating risks; providing financing and technical assistance; and supporting policy dialogue on the investment climate. Focusing on the creation of jobs especially for young people, unlocking the potential of the digital economy and enhancing scientific, technical and vocational education and training (TVET) are also essential areas of cooperation.
Key areas of cooperation
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The EU External Investment Plan (EIP) provides a framework to improve sustainable investments in Africa and the European Neighbourhood. It will support innovative financial instruments such as guarantees to boost private investment. With an input of EUR 4.1 billion from the EU, it will mobilise up to EUR 44 billion of investments.
The EIP focuses on priority investment areas that include: sustainable energy and sustainable connectivity; micro, small and medium enterprise financing; sustainable agriculture, rural entrepreneurs and agroindustry; sustainable cities and digitalisation for sustainable development.
With the aim of promoting and intensifying structured dialogue with the private sector, the EU has launched the 'Sustainable Business for Africa (SB4A) Platform'. |
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The EU has been supporting negotiations for an Africa Continental Free Trade Area (AfCFTA) and has provided technical expertise and studies. The Pan-African Programme 2018-2020 will continue to support the AfCFTA negotiations and implementation with an investment of approximately EUR 50 million. Blending long-term loans with grant resources the EU-Africa Infrastructure Trust Fund, established in 2007, has awarded over 110 grants to infrastructure projects . The Africa Investment Facility (AfIF) expanded its mandate to cater for support to transport, communication, water and energy infrastructure, as well as agriculture and private sector development, in particular SMEs. In 2017, the AfIF, as the Africa Investment Platform (AIP), became an integral part of the European Fund for Sustainable Development (EFSD), the first pillar of the EIP. |
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The Electrication financing initiative (ElectriFI) was launched in 2015 (during COP21) with the aim of supporting investments that increase access to modern, affordable and sustainable energy services, and promotes the adoption of renewable energy. |
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