On Wednesday 9 October, the European Investment Bank (EIB) announced that it had signed agreements with seven EU Member States to provide just over €74 million for a new ‘ACP Trust Fund’.
This commitment, made as part of the EU’s Global Gateway investment plan, is aimed at stimulating “inclusive and sustainable” growth in the countries of Africa, the Caribbean and the Pacific, with a focus on the least developed countries and fragile areas, said the EIB in a press release.
Denmark has pledged around €9.9 million, Finland €4.3 million, Germany €30.6 million, Luxembourg €5.4 million, Portugal €2.8 million, Spain €9 million and Sweden €12.25 million.
This funding will complement an initial envelope of €500 million launched by the European Commission in 2023 (see EUROPE 13131/16) with the creation of the ‘ACP Trust Fund’, which will mobilise investments in ACP countries until 2027. (Original version in French by Bernard Denuit)