Council of the European Union and European Parliament 26 September 2017, Regulation (EU) 2017/1601 of the European Parliament and of the Council of 26 September 2017 establishing the European Fund for Sustainable Development (EFSD), the EFSD Guarantee and the EFSD Guarantee Fund

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The Regulation (EU) 2017/1601 establishes the European Fund for Sustainable Development (EFSD), aimed at supporting investments primarily in Africa and the EU's Neighbourhood to achieve the UN's Sustainable Development Goals, particularly addressing migration and socioeconomic challenges. Key provisions include the creation of the EFSD Guarantee and Guarantee Fund, which facilitate private sector involvement and innovative financing solutions while ensuring compliance with development effectiveness principles. The EFSD is designed to operate transparently, with accountability measures including annual reporting to the European Parliament and the Council, and is supported by contributions from Member States and other entities to enhance its financial capacity.AI