Only three months after the launch of the Africa–Europe Alliance, the European Commission presented the first progress made in boosting investment and creating jobs in Africa at the High-Level Forum Africa-Europe held in Vienna, Tuesday. According to a press release by the European Commission, the EU External Investment Plan aims to raise significant sustainable investments in Africa and European neighborhood countries by 2020. The new projects announced at the Forum Tuesday include an EU guarantee (NASIRA Risk-Sharing Facility), the first of its kind under the EU External Investment Plan. It will use EU funds worth €75 million to leverage up to €750 million of investments for entrepreneurs in Sub-Saharan Africa and the EU’s southern neighborhood. A new Agri-Business Capital fund worth €45 million will support smallholder farmers by increasing their access to finance.

Source: The North Africa Journal December 19, 2018 16:41 UTC