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Study finds EU guarantees rich in potential but low on proof (Devex)

June 9, 2020

Mikaela Gavas was quoted in Devex on EU guarantees. From the article:

BRUSSELS — The European Commission last week released the first assessment of its plan to use billions of taxpayer euros to partially cover investors' losses in development-friendly projects. The verdict? The European Fund for Sustainable Development Guarantee is an innovative tool, but it suffers from monitoring and operational challenges and is not yet ready to be fully assessed.

For now, Mikaela Gavas, senior policy fellow at the Center for Global Development, told Devex in an email that by issuing the guarantees through five broad thematic windows, the commission had allowed the development banks "maximum flexibility to propose investmen programmes that suit their objectives, specialisation, and lower appetite for risk."

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Co-Director of Development Cooperation in Europe and Senior Policy Fellow