The European Ministers for Development held a political debate by video conference on Thursday 29 April on the future of the European financial architecture for development with the President of the European Investment Bank (EIB), Werner Hoyer, and the President of the European Bank for Reconstruction and Development (EBRD), Odile Renaud-Basso (see EUROPE 12708/30).
No press conference was held after this exchange.
According to an EU Council communiqué, the ministers expressed “marked support for a reinforced ‘Team Europe’ approach”, which will have the advantage of avoiding fragmentation, increasing synergies, and enhancing the collective impact of EU development support.
No major institutional changes are planned for the EIB and EBRD. It is coordination and a teamwork method, mobilising the EU, its Member States, their diplomatic networks, and the European financial institutions that will have to work towards more effective development aid and greater visibility for ‘Team Europe’, the world’s largest donor, according to the draft EU Council conclusions, which will be adopted in May (see EUROPE 12707/21).
The ministers also reportedly stressed that EU action should be guided by a strong political steer and that seamless coordination and strong governance are essential for the success of this approach.
“To lead the global recovery, we need the ‘Team Europe’ approach, which builds on the strengths of all actors”, said Commissioner for International Partnerships Jutta Urpilainen on her Twitter account, invoking the ‘status quo plus’ approach favoured by EU Finance Ministers. (Original version in French by Aminata Niang)