The European Union (EU) is playing a strategic role in supporting the African economic development. African countries are showing a great potential for sustained economic growth, with average rates of 5% per year, and have registered one of the fastest rates of improvements in human development over the past two decades. Nonetheless, Africa still registers the lowest average levels of human development compared to other regions in the world. High inequality, environmental vulnerability, weak structural transformation and conflicts hamper progresses. Moreover, the Africa’s population is expected to double by 2050. This will result in additional 60 million young people entering the labor market and 75 million new urban dwellers in need of housing in the next twenty years, which is likely to intensify the migration flows to Europe.
This study analyses the main European cooperation policies and investment programs for Africa and the Neighborhood countries, through literature review and an analysis of the legislative history (especially those related to the case of France and Italy).
It focuses on the recent launch (in 2016) of the European Commission External Investment Plan (EIP) which promotes investments in Africa and the Neighborhood Countries to create decent job opportunities, stimulate a sustainable development and, ultimately, tackle some of the root causes of migration. [...]
Keywords: Europe, Investment, Africa, Cooperation, Strategies, Development.