Brussels weighs giving private sector direct access to EU budget guarantee

European Union flags flutter outside the European Commission headquarters in Brussels, Belgium. Photo: REUTERS/Yves Herman

BRUSSELS — The European Commission is considering offering budget guarantees directly to the private sector in order to boost investment in Africa and countries neighboring the European Union, senior officials have told Devex.

Sources said the possible move, which would mean circumventing the development banks that have had privileged access to the guarantee under the European Fund for Sustainable Development until now, has been discussed internally in recent months but that a final decision will be left for the new leadership of the bloc’s executive body, which begins its five-year term Nov. 1.

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About the author

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    Vince Chadwick

    Vince Chadwick is the Brussels Correspondent for Devex. He covers the EU institutions, member states, and European civil society. A law graduate from Melbourne, Australia, he was social affairs reporter for The Age newspaper, before moving to Europe in 2013. He covered breaking news, the arts and public policy across the continent, including as a reporter and editor at POLITICO Europe.