BRUSSELS — The European Commission has finalized just one of the 28 guarantees it is offering to development finance institutions under its External Investment Plan, though it hopes to ink more after a meeting next week.
The commission has allocated €1.54 billion ($1.74 billion) to encourage institutions such as the European Investment Bank, European Bank for Reconstruction and Development, and national development banks, to take on risky investments with high development impact in countries neighboring the European Union and in sub-Saharan Africa.
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