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· The African Development Bank (AfDB) and the European Investment Bank (EIB) signed a joint partnership action plan highlighting their strengthened cooperation and mutual development priorities for boosting public and private sector investment in Africa
· Both institutions will draw up a list of bankable projects which they can implement based on their comparative advantage
· In recent years the EIB and AfDB have jointly supported clean energy, water, transport and private sector projects in countries like Morocco, Senegal in the West, Kenya in the East and Zambia in the South, and elsewhere across Africa
The African Development Bank (AfDB) and the European Investment Bank (EIB) signed a joint partnership action plan highlighting their strengthened cooperation and mutual development priorities for boosting public and private sector investment in Africa. Both institutions will draw up a list of bankable projects which they can implement based on their comparative advantage.
These expansive list of projects include climate action and environmental sustainability; transformative large-scale quality infrastructure investment; Information and Communication Technology (ICT) infrastructure and services; financial inclusion with a gender lens aimed at the empowerment of girls and women; education and training; and the health sector.
The agreement was signed by African Development Bank, Acting Senior Vice President Bajabulile Swazi Tshabalala, and Thomas Östros, European Investment Bank Vice President, during a virtual ceremony attended by more than 100 stakeholders from across Africa and Europe.
In recent years the EIB and AfDB have jointly supported clean energy, water, transport and private sector projects in countries like Morocco, Senegal in the West, Kenya in the East and Zambia in the South, and elsewhere across Africa. In the Sahel region, they are financing climate and energy initiatives such as Desert-to-Power and the Great Green Wall Initiative.
