(Ecofin Agency) - The amount injected in sub-Saharan Africa by the European Investment Bank (EIB) has dropped by 28% between 2013 and 2019, data collected by Ecofin Agency showed.

Last year, EIB granted the region a total of $1.15 billion for 29 projects, and despite the decline observed, this figure is the third-largest annual resource committed in the region by the institution. The bank granted $1.6 billion in 2018 and $1.2 billion in 2017.

Excluding commitments already announced in Cameroon this year, the European institution has supported nearly 1,419 projects over the past 40 years, for €18 billion overall.
Credit lines constituted the largest number of financing operations granted over the period, with 332 commitments or 23.4% of EIB’s total projects in SSA, followed by industry (308 commitments) and services (285) sectors.

In terms of value, the energy sector captured the largest amount €4.7 billion, whereas the education sector was the minor player with only €1.5 million.

Idriss Linge