(Ecofin Agency) - The European Investment Bank announced on February 24 an envelope of €4 billion to support public and private investment in Africa this year. The fund will be allocated to infrastructure that drives private sector growth, enabling job creation by entrepreneurs, start-up companies and corporates, and provide new financing for climate-related investment and sustainable development.
“Africa is a key priority for the European Union and the European Investment Bank. The European Investment Bank is committed to working with African partners to accelerate and expand new investment that delivers sustainable development, tackles the climate emergency, creates jobs and improves lives across Africa,” said Werner Hoyer, EIB’s President.
Last year, the Bank invested a total of €3 billion in Africa. Today, the institution boasts of an investment of over €45 billion, with technical and financial teams in 9 cities across the continent.