Webinar: Financing of development coorperation after the Corona Crisis

In this online-event we discussed experts‘ perspectives on the consequences of the corona crisis in view of the new Multiannual Financial Framework with a focus on the financing of development coorperation. While the current Multiannual Financial Framework (the EU budget for the years 2014-2020) is coming to a close, the European Union has failed to achieve its goal to spend 0,7% of its combined Gross National Income on development cooperation. The new Multiannual Financial Framework 2021-20​27 foresees a new Instrument for development cooperation, the NDICI, which will have significant effects on the financing for development during the upcoming years. Nonetheless, the Corona crisis will affect the developing countries most severely. Already poor countries will have more difficulties to deal with the sanitary and economic impacts of the Covid-19 pandemic. It is positive to note, that the recent Commission’s proposal foresees an increase of funds for the NDICI of 6,7 bn. Euros (in comparison to the Commission’s proposal from May). But will that be enough? The questions of the Webinar were: 1. How to avoid and resolve a debt crisis in developing countries in the aftermath of the COVID-19 pandemic? 2. How can the New Multiannual Financial Framework contribute to fulfillng the EU’s pledge to contribute 0,7% of its combined Gross National Income to development cooperation, having in mind the Sustainable Development Goals? 3. Will we need a Marshall plan or a certain recovery package also for the developing countries? Process: After two short inputs of our speakers Katrin Berensmann, German Institute for Development (DIE) and Maxi Köhler, Youth Ambassador ONE participants will be welcome to take the virtual the floor an discuss with our guests and MEP Rasmus Andresen.