Hon Minister of Public Infrastructure and Land Transport, Minister of Foreign Affairs, Regional Integration and International Trade

 The Assistant Secretary-General of the ACP group of states

Secretary of  Foreign Affairs

Members of the Diplomatic Corps

Representatives of Financial Institutions

Private sector representatives from the ACP countries

Distinguished guests

• Ladies and Gentlemen

• Thank you for the opportunity to address you today at this joint ACP- EU event.  It is an honour to welcome so many distinguished guests and representatives from ACP countries in Eastern and Southern Africa.  We also have very high level presence from Mauritius, a testimony to the importance of private sector development for the country.  

• Today's event is an important occasion to showcase the support of the European Union to the ACP Group of states.  We will do this through the presentation of various Intra ACP programmes, and our new instruments as well.  We have the pleasure to welcome a representative of the European Commission, Mr Miguel Campo Llopis, who is an expert on the subject and will make presentations later on.

• First let me stress that the implementation of relevant strategic actions for ACP countries, notably for private sector development, would not be possible without a good cooperation between the European Union and the ACP Secretariat. 

• Together, in 2018, we made substantial progress in terms of private sector financing at ACP level.  We committed more than 60% of the 600 million euros allocated to the intra-ACP Private Sector Development Programme under the 11^th European Development Fund. For example we launched important projects in the area of standards and business friendly support services, among others.

• However, public resources will never be sufficient to fully implement the Sustainable Development Goals (the so-called SDGs). This is why we need the private sector to get on board.  And we are exploring new ways to create incentives for private investors to contribute to achieving these Goals.

• Our ambition for the collaboration between the European Union and the private sector in ACP countries is very high.  Private sector has an enormous potential to be our partners in achieving SDGs. Therefore, the European Union partnership with ACP goes well beyond development aid. 

• We work together to create sustained growth through more trade, economic relations and private sector investments. And to achieve this we continue to support innovative approaches that will allow us to ensure sustainable economic development with job creation. This is one of our key commitments under the EU-Africa Alliance launched last year.

• Our primary instrument at global level to achieve this is the European External Investment Plan (EIP) through which we are attracting private investments to create decent jobs, in particular for young people and women. 

• In 2018, under the EIP the EU approved several guarantee schemes which will be presented to you during this event.

• In addition, a number of blending projects are ongoing in this part of Africa. Thanks to these blended finance operations – which mix loans with EU grants – and benefit from the technical assistance, we are able to ensure that new investments arrive in ACP partner countries.

• In addition, we support Medium, Small and especially Micro enterprises who have fewer options when asking for credit. They also benefit from guarantees for investments under the EIP so they can build attractive projects that can be financed through local or international financial institutions.

• In this context we are already working with ACP local financial institutions: first, to strengthen their capacities to provide innovative financial instruments, and second: to link their activities to international development financial institutions. This is what we already do with the technical assistance linked to blended finance and guarantees, among others instruments.

Excellencies, Ladies and Gentlemen

• Today's event will allow knowledge sharing and networking among ACP countries in the Eastern Africa and Southern Africa region. You will have the opportunity to hear from key stakeholders about important topics that are of direct relevance to you.   

• I hope that you will, through this event, understand that there is a strategic partnership between the European Union and the ACP Group of States.  As you all know, we are currently working on the proposed architecture of the new cooperation framework between the European Union and the ACP once Cotonou ends in 2020.  Private sector development, job and growth creation will be important considerations during these discussions.

•  I invite you to make the most of the event. You have very high level interlocutors from key financial institutions. Do not hesitate to interact with them to get the most from your participation.

• I would like to thank the Government of Mauritius for hosting this event today, and the ACP Secretariat for its excellent organisation.

• I wish you all a very successful workshop.

Thank you for your kind attention.