EU development ministers discuss the European financial architecture for development

EU development ministers discuss the European financial architecture for development

Minister for Development Cooperation and Foreign Trade Ville Skinnari will attend the EU development ministers’ informal video conference on 29 April 2021.

The ministers will discuss the future of the European financial architecture for development (EFAD). The meeting will build on the debate held at EU finance ministers meeting on 16 April.

The cooperation and division of work between the European Investment Bank (EIB) and the European Bank for Reconstruction and Development (EBRD) play a key role when the European financial architecture for development is strengthened.

Finland considers that it is important to enhance the effectiveness of the EU’s external finance and that there are possibilities for upgrading the effectiveness and visibility of European investments in developing countries. Development ministers will also hold a discussion on more efficient ways to allocate funding to the least developed and fragile countries.

“In developing countries, it is important to invest in green and sustainable economy, especially in the aftermath of the coronavirus pandemic. The mechanisms and effectiveness of the European financial architecture for development should form a package that better responds to the EU’s financial contribution to global development finance,” says Minister Ville Skinnari.

 

Inquiries:

Kirsi Airio, Special Adviser to the Minister for Development Cooperation and Foreign Trade, tel. +358 50 574 1729
Salla Sammalkivi, Deputy Director of the Unit for General Development Policy, tel.  +358 295 350 023
Pekka Hirvonen, Director, Unit for Development Finance and Private Sector Cooperation, tel. +358 295 351 407
The email addresses of the Ministry for Foreign Affairs are in the format firstname.lastname@formin.fi.