The European Commission’s plan for a multi-billion African investment vehicle was one of few highlights in Jean-Claude Juncker’s often turgid state of the Union speech earlier this month.
As with the original European Fund for Strategic Investments (EFSI), the main plank of the Juncker commission’s economic policy, there’s not much hard cash behind the initiative.
The investment vehicle will be based on a €1.5 billion guarantee from the EU budget, and a further €1.85 billion from...
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