On Wednesday 28 June, negotiators at the European Parliament and Maltese Presidency of the Council of the EU reached a provisional agreement on creating the European Fund for Sustainable Development (EFSD). This is an external investment fund which is expected to enable €44 billion in private sector investment in Africa to be raised by 2020. Its initial budget is €3.3 billion (see EUROPE 11774).
The goal is to address the deep-rooted causes of migration. This new instrument is...