Public Management

EIB to invest additional €16bln+ to fight Covid-19 across the world

EIB to invest additional €16bln+ to fight Covid-19 across the world
Friday, 17 July 2020 14:47

The European Investment Bank (EIB) has just announced the deployment of €16.6 billion to fight the coronavirus pandemic and develop resilience projects in several economic sectors worldwide.

More than €10 billion of covid-19 investments will improve public health, strengthen public services, and support business investment in sectors affected by the pandemic. Nearly €800 million will support covid-19-related business investments in Egypt, while a specific regional funding program will also enable companies in North and sub-Saharan Africa to develop projects against the pandemic.

In the segment of renewable energy, the institution has announced financing of almost €2 billion to set up two new electricity interconnections in Mali and Madagascar intending to reduce dependence on fossil fuels, improve access to energy and increase the use of cheaper energy sources. In Mali, the capital Bamako will be connected to the West African power exchange system and new renewable energy sources.

In the transport sector, new support of €1.1 billion will be given to Egypt to transform public transport in cities. In the housing sector, EIB announces that it will support the construction of energy-efficient housing in Kenya. This program is expected to be part of the Big 4 Agenda which aims to align with the World Bank's green standards to accelerate the construction of affordable housing for the population.

“The covid-19 pandemic may have been largely contained in Europe for the time being, but the number of businesses deeply affected by the crisis continues to grow and the number of infected and seriously ill people is rising rapidly on other continents. EIB is working with hundreds of private and public sector partners around the world to identify where help is needed and ensure that funding is delivered quickly," said EIB President Werner Hoyer (pictured).

Moutiou Adjibi Nourou

Additional Info

  • communiques: Non
  • couleur: N/A
On the same topic
• Togo’s GDP grew 17.7% in Q4 2024• Agriculture, construction, services drove sharp year-end rebound• Electricity, hospitality, and public sector saw...
• Morocco’s Jobzyn secures pre-seed funding from pan-African fund Janngo Capital.• Startup uses AI to match candidates, assess soft skills, and streamline...
• Acumen rolls out second KawiSafi fund with $90 million capital, $40 million secured.• Fund targets 50 million people, avoiding 50 million...
Africa registered a 12% increase in international tourist arrivals in H1 2025, the highest global growth. North Africa and Sub-Saharan Africa...
Most Read
01

Nigeria’s fintech landscape has undergone a seismic shift in recent years, driven largely by persist...

In Nigerian, Bank Technology Failures Pushed OPay and PalmPay to Leadership in Daily Payments
02

• Benin’s FeexPay and Côte d’Ivoire’s Cinetpay receive BCEAO payment service licenses• Both firms ex...

WAEMU fintech industry strengthens with two new BCEAO regulatory approvals
03

From Dakar to Nairobi, Kampala to Abidjan, mobile money has become a lifeline for millions of Africa...

Africa's Boundless Future: How a simple mobile phone became a pocket bank for millions
04

Zenith Bank picks Côte d’Ivoire for $90M debut into Francophone Africa, confirming ambition t...

Zenith Bank Moves to the WAEMU/CEMAC  $92.4 Billion Loan Book Appeal, When Half Seats Are Taken
05

Niger’s economy grew 10.3% in 2024 and is projected to expand 6.6% in 2025. Yet non-performin...

Niger’s rapid growth shadowed by fragile banking sector
Enter your email to receive our newsletter

Ecofin Agency provides daily coverage of nine key African economic sectors: public management, finance, telecoms, agribusiness, mining, energy, transport, communication, and education.
It also designs and manages specialized media, both online and print, for African institutions and publishers.

SALES & ADVERTISING

regie@agenceecofin.com 
Tél: +41 22 301 96 11 
Mob: +41 78 699 13 72


EDITORIAL
redaction@agenceecofin.com

More information
Team
Publisher

ECOFIN AGENCY

Mediamania Sarl
Rue du Léman, 6
1201 Geneva
Switzerland

 

Ecofin Agency is a sector-focused economic news agency, founded in December 2010. Its web platform was launched in June 2011. ©Mediamania.

 
 

Please publish modules in offcanvas position.