Civil society organisations: ensuring the European External Investment Plan is a pro-poor instrument is crucial

Oxfam joins a group of civil society organisations in expressing a number of concerns regarding the European External Investment Plan (EIP), an instrument recently proposed by the European Commission as part of the EU’s external action. Through the use of private blending finance, the External Investment Plan is expected to leverage additional funding from the private sector to foster growth and job opportunities in Africa and the EU Neighbourhood. However, the tool’s objectives and rationale need to be revised. In addition to that, absent adequate transparency and accountability standards, there is to date too little evidence that blending and similar tools will deliver the intended development impact.