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The Commission and the Member States have set up eight regional investment facilities to support EU external policies. These investment facilities aim at pooling together (blending) grants provided by the European Commission with loans from financial institutions. They contribute to finance key infrastructure projects that require considerable financial resources. The Court examined the effectiveness of blending EU grants with loans from financial institutions. The Court concludes that this blending has been generally effective. The regional investment facilities were well set up but the potential benefits of blending were not fully realised. The Court makes a number of recommendations for the Commission that concern project selection and grant approval, disbursement of funds, monitoring of the implementation of EU grants, and enhancing the visibility of EU aid.
"The Commission and the Member States have set up eight regional investment facilities to support EU external policies. These investment facilities aim at pooling together (blending) grants provided by the European Commission with loans from financial institutions. They contribute to finance key infrastructure projects that require considerable financial resources. The Court examined the effectiveness of blending EU grants with loans from financial institutions. The Court concludes that this blending has been generally effective. The regional investment facilities were well set up but the potential benefits of blending were not fully realised. The Court makes a number of recommendations for the Commission that concern project selection and grant approval, disbursement of funds, monitoring of the implementation of EU grants, and enhancing the visibility of EU aid."--Publisher's description.
It would be fair to say that foreign aid today is one of the most important factors in international relations and in the national economy of many countries – as well as one of the most researched fields in economics. Although much has been written on the subject of foreign aid, this book contributes by taking stock of knowledge in the field, with chapters summarizing long-standing debates as well as the latest advances. Several contributions provide new analytical insights or empirical evidence on different aspects of aid, including how aid may be linked to trade and the motives for aid giving. As a whole, the book demonstrates how researchers have dealt with increasingly complex issues over time – both theoretical and empirical – on the allocation, impact, and efficacy of aid, with aid policies placed at the center of the discussion. In addition to students, academics, researchers, and policymakers involved in development economics and foreign aid, this Handbook will appeal to all those interested in development issues and international policies.
Environmentally Sustainable Development Proceedings Series No. 10.Presents the proceedings of the World Bank's Third Annual Conference on Environmentally Sustainable Development, held in October 1995. The conference included roundtable discussions, a variety of speakers, and associated conferences and events co-sponsored by nongovernmental organizations and other institutions.
For the next Multiannual Financial Framework for 2014-2020 the European Commission proposes to introduce loan and grant blending facilities into the Development Co-operation Instrument (DCI). These facilities have succeeded in leveraging considerable development finance from development banks and other financiers in the countries embraced by the EU Neighbourhood policy, the Balkans and Sub-Saharan Africa. There are justified concerns, however, that these blending facilities are not appropriate to address many development needs and that the assistance in the form of concessional loans can put heavily indebted countries at risk. Nevertheless, the use of blending facilities in the DCI can be beneficial if well devised. They should be used to complement but not substitute for traditional development finance. Furthermore, care is required to ensure that blending instruments are effectively oriented towards poverty reduction, avoiding a return to a focus on investment. To ensure that the blending facilities expand the effectiveness of development finance, the governance and coherence of the instruments need to be reviewed, with the aim of retaining the positive elements of flexibility, but keeping the risks for the beneficiaries low and ensuring a poverty reduction approach.
Financializations of Development brings together cutting-edge perspectives on socio-political, socio-historical and institutional analyses of the evolving multiple and intertwined financialization processes of developmental institutions, programs and policies. In recent years, the development landscape has seen a radical transformation in the partaking actors, which have moved beyond just multilateral or bilateral public development banks and aid agencies. The issue of financing for sustainable development is now at the top of the agenda for multilateral development actors. Increasingly, development institutions aim to include private actors and to lever in private money to support development projects. Drawing on case studies conducted in Africa, Asia, Europe and Latin America, this book examines the ways in which these private finance actors are enrolled and associated with the conception and implementation of development policies. Beginning with a focus on global actors and private foundations, this book considers the ways in which development funding is raised, managed and distributed, as well as debates at the center of global forums where financialized policies and solutions for development are conceived or discussed. The book assembles empirical research on development programs and demonstrates the social consequences of the financializations of development to the people on the ground. Highlighting the plurality of processes and outcomes of modern-day relations, tools, actors and practices in financing development around the world, this book is key reading for advanced students, researchers and practitioners in all areas of finance, development and sustainability.