From the reform of the multilateral development banks to the global impact of the war in Ukraine, the need for financial resources and strategic investments to meet the enormous needs of the most vulnerable countries in a world in crisis was the common thread running through the discussions of the Foreign Affairs Council in its ‘Development’ format on Thursday 4 May in Brussels, under the presidency of Josep Borrell. Many delegations were represented by their ambassadors to the EU.
The response to food insecurity in the most vulnerable countries was discussed. UNCTAD (United Nations Conference on Trade and Development) Secretary General Rebeca Grynspan Mayufis, who also chairs the UN Global Crisis Response Group, participated via video conference.
It is important to “maintain the Black Sea initiative”, in cooperation with the UN, said Josep Borrell, who was speaking before the meeting and did not hold a press conference.
The 2023 Global Report on Food Crises, published on 3 May by the Food Security Information Network (FSIN), is alarming. It indicates that 258 million people in 58 countries are currently suffering from acute hunger, an increase of 65 million people (34%) compared to the previous year.
With regard to the reform of the multilateral development banks, the exchange of views made it possible to continue the discussions that had mobilised the ministers at their informal meeting in Stockholm in March (see EUROPE 13138/20).
“The aim of the reform is to make the multilateral banks fit for purposes, starting with our own banks - the EIB and the EBRD”, Borrell said. Ministers discussed this with EIB President Werner Hoyer at a breakfast before the session.
“We want to have a clear European position on how to reform the multilateral banks, in particular the World Bank, so that it can finance the green transition and climate-related investments in partner countries”, said European Commissioner for International Partnerships Jutta Urpilainen.
The primary objective of poverty eradication must not be lost sight of, so as not to abandon the least developed countries, delegations reiterated.
With these discussions, the Development Ministers contributed to a preparatory process that primarily involves the Finance Ministers, in view of the summit that will be hosted in Paris at the end of June, at the initiative of France and Barbados.
The ministers also discussed, as they did in Stockholm in March, Ukraine’s reconstruction needs, in parallel with emergency aid, with a view to the country’s Recovery Conference in London in June.
“It is crucial that we continue to provide unified support to Ukraine”, said Sweden’s Minister for International Cooperation and Trade Johan Forssell. (Original version in French by Aminata Niang)