In a working document presented on Wednesday 17 September, the European Centre for Development Policy Management (ECDPM) puts forward three proposals to increase the involvement of the European private sector and public financial institutions in the EU’s Global Gateway strategy.
The think tank believes that the success of Global Gateway will depend on greater coordination between export credit agencies (ECAs), which cover the risks associated with companies’ international operations, and development finance institutions (DFIs), which support projects with an economic and social impact, as well as with public development banks.
The ECDPM is calling for : - setting up a “light, flexible and reactive” coordination structure to identify eligible strategic projects; - the launch of a dedicated financial mechanism, via the European Investment Bank Group, combining guarantees, subsidies and technical assistance; - the adoption of clear definitions of the notions of “EU interests” and “resilience”, in order to guide project selection and ensure greater visibility of European action.
“National leadership and Team National efforts must become the key pillars for a Team Europe framework that is both coherent and flexible. The EC must enable this transformation by creating a dedicated coordination structure within a DG (e.g., DG INTPA) that is responsible for interservice coordination within the EC, and ensuring that both ECAs and DFIs are meaningfully integrated into the EU’s financial architecture”, the authors recommend.
See the working document: https://aeur.eu/f/ihk (Original version in French by Bernard Denuit)