09/04/2019 (Agence Europe) – The EU Council adopted on Tuesday 9 April the decision to set up the high level Group of Wise Persons on the European Financial Architecture for Development. This group, chaired by Thomas Wieser and composed of eight independent members, is due to present a report by October which will set out “the challenges and opportunities for streamlining the financing of development policies at EU level” and recommend “possible solutions for reforming the existing structure”, according to the EU Council (see EUROPE 12228/19). These recommendations should be based on an assessment of the capacity of the current system to contribute to the EU's external action and development priorities, as well as an analysis of the strengths and weaknesses of the instruments and actors concerned and the potential of each institution to strengthen private sector participation and sovereign lending. (CG)