Delegation of the European Union to Uganda

EU Ambassador delivers key note address at East Africa Energy Infrastructure Summit

07/02/2018 - 09:50
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In his address, EU Ambassador H.E Attilio Pacifici presents the new ambitious European External Investment Plan (EIP) to leverage private and public resources for sustainable development in Africa and the in the EU neighbourhood

Ambassador Pacifici East Africa Energy Infrastructure Summit

The Head of the European Union Delegation to Uganda, H.E. Ambassador Attilio Pacifici delivered a key note address at the opening ceremony yesterday of the East Africa Energy Infrastructure Summit. The three day summit is geared at improving investor appetite in the sustainable energy sector in East Africa. Ambassador Pacifici opened the Summit together with Ethiopian State Minister for Energy, Honourable Frehiwot Woldehanna, and the US Ambassador to Uganda, H.E. Deborah Malac. Uganda Energy Minister Irene Muloni delivered her remarks at this morning's session.

Addressing the audience, Ambassador Pacifici presented the recently launched new and ambitious European External Investment Plan (EIP) which seeks to leverage private and public resources for sustainable development in Africa and in the EU's Neighbouring countries.

The EIP is broken down into 3 pillars: 

  • Pillar 1: A new European Fund for Sustainable Development (EFSD), set up as a one-stop-shop for investment financing. It builds on two sub-components: (1) an innovative guarantee fund with an additional firepower of EUR 1.5 billion, and (2) regional investment platforms, with an indicative budget of up to EUR 2.6 billion. Both instruments are expected to leverage more than EUR 44 billion of investments until 2020 in Africa and the EU Neighbourhood.
  • Pillar 2: Technical support to help local authorities and companies develop bankable projects.
  • Pillar 3: Improvement of  business and investment climate, by supporting structural reforms, good governance and dialogue between public and private partners.

Sustainable energy is one of five set EIP priority sectors. The sector requires ambitious policy measures as well as unlocking of private capital, in particular from institutional investors, through risk mitigation.  In his speech, Ambassador Pacifici offered concrete examples of projects already in place, supported by the European Union, which will provide a fertile ground to implement the EIP in the energy sector.

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To know more about the European External Investment Plan see: https://ec.europa.eu/commission/external-investment-plan_en

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