![European Fund for Sustainable Development (EFSD) [EU Legislation in Progress]](https://i0.wp.com/epthinktank.eu/wp-content/uploads/2016/12/eprs-briefing-595837-european-fund-sustainable-development-final2.jpg?fit=1000%2C667&ssl=1)
Written by Marta Latek (3rd edition),
The Commission took the opportunity provided by the September 2016 proposal for mid-term review/revision of the 2014-2020 MFF to propose the creation of a new innovative financial instrument – the European Fund for Sustainable Development (EFSD). The EFSD is part of the partnership framework for cooperation with countries with high irregular emigration and is one of the pillars of the new external investment plan, inspired by the success of the investment plan for Europe. This plan, one of the legislative priorities for 2017, listed in the Joint Declaration by the European Parliament, the Council and the European Commission of 13 December 2016 is an important building block of the reformed EU migration policy. The new fund aims to mobilise EU grants to catalyse investment from public and private sources to tackle the root causes of migration in the European neighbourhood and Africa, while helping to achieve the 2030 Agenda Sustainable Development Goals. Some NGOs have voiced concern, fearing the use of development policy resources for migration management purposes and in pursuit of European private-sector interests.
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| Proposal for a regulation of the European Parliament and of the Council on the European Fund for Sustainable Development (EFSD) and establishing the EFSD guarantee and the EFSD guarantee fund | ||
| Committees responsible: | Foreign Affairs (AFET), Development (DEVE), and Budgets (BUDG) jointly under Rule 55 | COM(2016) 586 of 14.9.2016
procedure ref.: 2016/0281(COD) Ordinary legislative procedure (COD) (Parliament and Council on equal footing – formerly ‘co-decision’) |
| Rapporteurs:
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Doru-Claudian Frunzulică (S&D, Romania)
Eduard Kukan (EPP, Slovakia) Eider Gardiazabal Rubial (S&D, Spain) |
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| Procedure completed. | Regulation (EU) 2017/1601 OJ L 249, 27.9.2017, pp. 1-16 |
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