EU agrees 24 new guarantee programmes to boost investments in partner countries
The European Fund for Sustainable Development plus (EFSD+) has today endorsed a further package of 24 guarantee programmes to support investments in the EU’s neighbourhood and enlargement countries.
The new guarantees, worth €2.4 billion, are expected to generate investments in the order of €17 billion in priority sectors, including renewable energy, digital connectivity and private sector competitiveness, under the EU’s Economic and Investment Plans (EIPs) for the Western Balkans and South and Eastern Neighbourhood.
The European Fund for Sustainable Development Plus (EFSD+) is part of the EU’s investment framework for external action and ensures worldwide coverage for blending, guarantees and other financial operations.
With the signing of guarantee agreements between the EU and 11 European and international financial institutions, such as the European Investment Bank (EIB), the European Bank for Reconstruction and Development (EBRD) and national development banks, these institutions will have three years to obtain investments in relevant areas, such as the Black Sea connectivity in the Eastern Neighbourhood. The EU guarantee is also expected to increase banks’ finance for small and medium enterprises, as well as to increase the issuance of green bonds in the EU partner countries.
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