Contributions to Multilaterals
Multilateral development banks are a major financier of SDG7 in Africa, yet these organisations are funded by their member government shareholders. Non-EU multilaterals which are part-funded by EU Member States dominated multilateral financial flows to SDG7 in Africa in 2014-2019.
Comprehensive data on the core contributions to multilateral institutions are unavailable, but an examination of data published by the OECD showing contributions made by its member states in the period 2014-2018 shows that EU Member States consistently account for over half of all core contributions reported. In 2019, this figure was 55% more than that contributed by Asian OECD members and almost 375% more than that extended by North America. This shows that the EU region indirectly finances energy projects in Africa far beyond the bilateral support extended by its financial institutions and Member States’ bilateral agencies and funds.
By applying the proportions of EU Member State core contributions to the financing of SDG7 in Africa by multilaterals (excluding EU Institutions) which are identified as being the recipient of EU funding, it can be implied that between 2014-2019, EU Member States have contributed as much as EUR 4.2 billion via funding of multilaterals in addition their direct commitments to projects. However, this figure does not take into account the core contributions made to multilaterals by non-OECD members, nor the finance raised by multilaterals through other fund-raising windows/envelopes beyond their core contributions.