Today, in Washington DC, in the framework of the World Bank/International Monetary Fund (IMF) Annual Meetings, Commissioner for International Partnerships, Jutta Urpilainen reaffirmed Europe’s commitment to fostering sustainable development across the globe through her participation in the WBG/IMF Development Committee as well as with a series of landmark agreements concluded during her mission.
Commissioner Urpilainen alongside the Ambassador of Denmark to the United States, Jesper Møller Sørensen, and Deputy CEO of Danish development agency IFU, Søren Peter Andreasen, signed an EU guarantee supported by European Fund for Sustainable Development Plus (EFSD+), one of the financing tools of Global Gateway, promoting sustainable investments in partner countries. The signature will allow Denmark to launch the Danish Sustainable Development Goals Investment Fund II (SDG Fund II). With a target size of €670 million in resources, including €71.7 million backed by the EFSD+ guarantee, the SDG Fund II will drive investments in sectors critical to green and inclusive economic growth. The fund will focus on impact priorities like financial services, renewable energy, infrastructure, healthcare, and sustainable food systems.
Additionally, the Commissioner, together with IMF Managing Director Kristalina Georgieva signed a €15 million contribution from the EU to the Global Public Finance Partnership (GPFP), the new IMF multi-donor fund launched in January 2024. The EU will support the IMF in delivering fiscal capacity development to emerging and developing economies, with a focus on low-income countries and fragile states. The EU contribution will mainly support countries’ efforts to enhance the mobilisation of their domestic revenues, which remain the most predictable source of financing for sustainable development.
In addition, the EU also provided € 8 million to support IMF activities on the expenditure side of public finance through the second phase of the IMF-EU Public Financial Management – Partnership Programme 2 (PFM-PP2). This EU-funded programme will support EU partner countries in strengthening their spending policies and PFM systems, including on dimensions that are critical for them to rip the benefits of Global Gateway such as fiscal transparency, expenditure control and public investment management.
The two programmes are therefore complementary and aligned with the Commission’s “Collect More, Spend Better” approach, which supports countries in strengthening their revenue and expenditure policies.
In a further step to enhance education across Africa, Commissioner Urpilainen, together with Monique Nsanzabaganwa, Deputy Chairperson of the African Union Commission (AUC), signed the AU component of the Regional Teachers Initiative for Africa. The Regional Teachers Initiative for Africa is developed in partnership with several EU Member States (BE, FI, FR) and UNESCO and covers 49 Sub Saharan African countries. It has a total value of € 100 million and will be implemented over a period of six years. The AUC component, worth €1.5 million, aims to enhance the quality, relevance, and effectiveness of teacher professional development, through digital education, peer-to-peer learning approaches and regional collaboration. It will support the development and implementation of regional teacher frameworks as well as regional coordination around teacher valorisation, teacher development and teacher mobility.
Commissioner for International Partnerships, Jutta Urpilainen, said: “These agreements highlight the EU’s unwavering commitment to fostering global resilience and prosperity—whether by enhancing public financial management, promoting sustainable investments in green energy and infrastructure, or advancing education systems across Africa. Through these partnerships, we are building stronger economies, empowering teachers, and supporting countries in achieving their Sustainable Development Goals, ensuring a brighter, more inclusive future for all.”
Background information
Regional Teachers Initiative for Africa – European Commission (europa.eu)
Education – European Commission (europa.eu)
