Nirj Deva MEP unveils new EU development financing plan with the private sector

Category: News

The European Commission decided to back Nirj Deva MEP’s plan on Public-Private Partnerships for the EU, a financing method which could channel €300 billion a year to the developing world.

International Development Vice-Chair in the European Parliament and Conservative Development Spokesman Nirj Deva MEP fought for the past four years to steer the plan forward in the European Parliament:

“An initiative of this kind by the Parliament and Commission could transform the lives of millions of people in the developing world.

If the EU’s €20 billion a year of European Union international development funding was maximised, we could mobilise about €300 billion of capital, which, if spent on acquiring equipment, plant and technology from Europe, could give an enormous boost to the current sluggish growth of the European economies.

This is revolutionary. We use public and private sector money to create wealth, businesses, enterprise, jobs, small workshops, canning factories in Sub-Saharan Africa and other parts of the world.

When we bring the private sector in we also bring the disciplines of the private sector. Proper accounting, tendering and reporting procedures all follow because private sector money is going to want a return.”

Leading a conference in Rome on public-private partnerships, Mr Deva argues that such an approach is the only sustainable way of tackling the migration crisis:

“The thing we must understand is why are people coming to Europe. They want better opportunities, better income, better lives. They don’t stay in their countries because those countries are underdeveloped so they march with their feet to the borders of the EU.

“International development is not just about helping poor people. It’s about preventing people migrating and making such a dangerous journey in search of a better life. It’s a two way thing.”

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For further information and media inquiries:

Contact Nirj Deva MEP 

International Development Vice-Chair in the European Parliament and Conservative Development Spokesman

nirj.deva@europarl.europa.eu

 

Contact Ingrid Grosu

Senior Adviser on International Development, Nirj Deva MEP

ingrid.grosu@europarl.europa.eu

003222837245