The future of the European Financial Architecture for Development

The workshop, organised at the request of the Committee on Development (DEVE) on 7 February 2022, provided a brainstorming platform for an exchange of views between Members of the committee, invited experts and various stakeholders, on the future of European Financial Architecture for Development (EFAD). It examined the state of play and the decisions made by the Council to pursue the ‘status quo +’ option, as well as other alternative options and scenarios, such as the establishment of a European Climate and Sustainable Development Bank. It provided recommendations on the best way forward, including on the roles of the European Investment Bank (EIB), the European Bank for Reconstruction and Development (EBRD) and EU Member States’ development finance institutions, also in the context of the ‘Team Europe’ approach and the implementation of the NDICI-Global Europe regulation. The workshop was accompanied by written briefings by external experts, feeding into the drafting process of the committee’s own-initiative report on the subject-matter. Two panels corresponding to the thematic focus of the experts’ briefings were held as follows: Panel 1: ‘Evaluation of the state of play of the European Financial Architecture for Development’ and Panel 2: ‘The roles of the European Investment Bank (EIB), the European Bank for Reconstruction and Development (EBRD) and EU Member States’ development finance institutions’. This report compiles the briefings, and a summary of the debate.