21/11/23 (Agence Europe) – In conclusions adopted on Tuesday 21 November, the EU Council considers that the ‘Team Europe’ approach, which mobilises the EU, the Member States and their financial institutions (EIB, EBRD) in development policy, is a ‘must’ in that it increases the capacity of the EU and its Member States to help developing countries meet global challenges, maximises aid effectiveness and is a prerequisite for the successful implementation of the EU’s global investment strategy. It maximises aid effectiveness and is a prerequisite for the successful implementation of the EU’s ‘Global Gateway’ investment strategy, which envisages €300 billion of investment in developing countries by the end of 2027. The EU Council stresses the importance of this approach for coordinated strategic communication and for the visibility of joint EU actions. It also sees this as a way of contributing to a more coherent, effective and visible European financial architecture for development. https://aeur.eu/f/9n1 (AN)