Brussels weighs giving private sector direct access to EU budget guarantee

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.