EU transfers €500m to Fund for Africa

The EU leaders, gathering in Brussels for Summit (28-29 June) devoted to resolution of migration crisis, agreed to transfer 500 million euro from the 11th EDF reserve to the
EU Trust Fund for Africa. They called upon further contributions to the EU Trust Fund for Africa with a view to its replenishment.

Tackling the migration problem at its core requires a partnership with Africa aiming at a
substantial socio-economic transformation of the African continent building upon the
principles and objectives as defined by the African countries in their Agenda 2063.

“European Union and its Member States must rise to this challenge. We need to take the extent and the equality of our cooperation with Africa to a new level” – the endorsed document says.

This will not only require increased development funding but also steps towards creating a new framework enabling a substantial increase of private investment from both Africans and Europeans. Particular focus should be laid on education, health, infrastructure, innovation, good governance and women’s empowerment.

“Africa is our neighbour and this must be expressed by increased exchanges
and contacts amongst the peoples of both continents on all levels of civil society. Cooperation between the European Union and the African Union is an important element of our relationship” – says the Summit conclusion signed by the European leaders.

The European Council calls for further developing and promoting it.

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