E.U.’s Proposed COVID-19 Recovery Plan Places Increase For Development Spending On Budget Guarantees

Devex: E.U.’s COVID-19 development boost will all go on budget guarantees
“The European Commission confirmed Tuesday that all of its proposed boost for development spending in response to the coronavirus crisis will go on budget guarantees aimed at spurring private investment. The commission won rare and effusive praise from nongovernmental organizations last week for including €16.5 billion ($18.2 billion) of foreign spending as part of its €750 billion Next Generation E.U. pandemic recovery plan. Of that €16.5 billion, €5 billion is proposed for humanitarian aid, €10.5 billion for development spending, and €1 billion for the existing European Fund for Sustainable Development, or EFSD — the commission’s first attempt to use European Union taxpayer money to cover part of investors’ potential losses in development-friendly projects in Africa and states neighboring the E.U. The only major caveat from civil society on the plan — which is not yet approved and which E.U. heads of state will discuss later this month — was that not all of the €10.5 billion should be used for budget guarantees…” (Chadwick, 6/3).

The KFF Daily Global Health Policy Report summarized news and information on global health policy from hundreds of sources, from May 2009 through December 2020. All summaries are archived and available via search.

The Henry J. Kaiser Family Foundation Headquarters: 185 Berry St., Suite 2000, San Francisco, CA 94107 | Phone 650-854-9400
Washington Offices and Barbara Jordan Conference Center: 1330 G Street, NW, Washington, DC 20005 | Phone 202-347-5270

www.kff.org | Email Alerts: kff.org/email | facebook.com/KaiserFamilyFoundation | twitter.com/kff

Filling the need for trusted information on national health issues, the Kaiser Family Foundation is a nonprofit organization based in San Francisco, California.