To which extent the framework and initiatives for EUAfrica relations are still fit for purpose, in particular in terms of mobilisation of resources for Africaās resilience and sustainable
development, or must be adapted to better respond to the new era of poly-crises?
There are three main actors in the Italian development cooperation system: (i) the Ministry of Foreign Affairs and International Cooperation (referred to by its Italian acronym, MAECI), (ii) the Italian Agency for Development Cooperation (AICS, from the Italian acronym) and (iii) Cassa Depositi e Prestiti (CDP), a prominent Italian investment bank.
British International Investment (BII) is the United Kingdomās development finance institution (DFI). It is entirely owned by the UK government and its single shareholder is the Foreign, Commonwealth and Development Office (FCDO), represented by the Secretary of State for FCDO. The relationship between FCDO and BII has evolved over time and continues to evolve. Over the last few years, there has been a growing appreciation within the UK government of the value of BII as an important channel to achieve not only UK development objectives but also to contribute to geopolitical objectives such as promoting Global Britain. The result has been a rising profile of BII towards achieving broader UK government policy objectives.
In France, blending operations are implemented by the public development bank (PDB) Agence FrancĢ§aise de DeĢveloppement (AFD) and the development finance institution (DFI) Proparco. Proparco has gained a larger role in recent years, reflecting a growing recognition of the need to mobilise private investment. Proparco is part of the AFD Group and in charge of all development operations with the private sector. Its latest capital increase dates back to 2020, bringing its share capital to ā¬984 million. AFD is Franceās main implementation agency.
In Germany, the Federal Ministry for Economic Cooperation and Development (BMZ) leads in coordinating the governmentās bilateral development policy priorities and positions. These are then operationalised and carried out in the form of distinct interventions by implementing agencies. Since a number of key reforms in the first decade of the 2000s, two main agencies have been involved in implementing Germanyās financial and technical cooperation: the KfW Group (Kreditanstalt fĆ¼r Wiederaufbau Bankengruppe) and Gesellschaft fĆ¼r Internationale Zusammenarbeit (GIZ).
On the 17th and 18th of February, the African Union and the European Union convened a Summit in Brussels and approved an āAfrica-Europe Investment Package of EUR 150 billion to help build more diversified, inclusive, sustainable and resilient economiesā. Is this Summit a turning point in the reciprocal relationship or is it a mere improvement of the usual kind of relations? To what extent is it an answer to strategic and concrete moves from other powers, namely China?
