The External Investment Plan (EIP) opens significant opportunities for Croatian companies and entrepreneurs to take a stronger step out onto markets in Europe's neighbourhood and Africa, said EU Commissioner for International Cooperation and Development Neven Mimica on Friday at a conference organised by the Croatian Chamber of Economy (HGK).
The External Investment Plan (EIP) was adopted in September 2017 to help boost investment in partner countries in Africa and the European Neighbourhood. It aims to contribute to the UN’s sustainable development goals and tackle root causes of migration, as well as mobilise sustainable public and private investments to improve economic and social development.
The end aim is to create dignified jobs and a more favourable business climate in those countries and to open new markets for European investors, Mimica said.
He added that almost three years ago, 193 members of the United Nations, including Croatia, had adopted an ambitious agreement to end poverty, as well as objectives of the 2030 Agenda, for sustainable development.
Implementing that aid programme in developing countries requires a significant increase in funding and a diversification of resources, which means cooperation with the private sector at the European and local level, he said.
Currently, €4 billion from the European budget is combined with financing from international financial institutions, with the goal of ensuring favourable conditions for investment loans, he said.
“We expect that this €4 billion could generate 10-11 times or €44 billion more in foreign investments in Africa and the EU neighbourhood by 2020,” Mimica said.
Minister of Foreign and European Affairs Marija Pejcinovic-Buric said it was necessary to invest more effort in the EIP and that Croatian entrepreneurs and experts should be more involved.
She added that by participating in the plan, Croatia was getting an opportunity enter markets in Croatia’s east, like Ukraine but also in African countries, particularly northern Africa, with lower risks.
“That stimulates and strengthens the entire Croatian economy, expands cooperation and trade and with these investments, Croatia can contribute to the development of developing countries and help achieve global goals of sustainable development,” Pejcinovic Buric said.
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