EIB enters into cooperation with the AfDB

The European Investment Bank (EIB) has signed a Joint Partnership Action Plan with the African Development Bank (AfDB).  

The Joint Action Plan enables both institutions to grow a shared pipeline of bankable projects around key complementary themes to which each institution would bring their comparative advantage. 

These themes are: 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. 

It is crucial that more multinational development banks and other development finance institutions commit to closer and stronger collaboration, such as seen through this Joint Action Plan between the AfDB and the EIB, in order to more efficiently and effectively support our regional member countries during these troubling times,”  said Tshabalala. “Sustainable economic growth and security in regions facing particular challenges, such as the Sahel and Horn of Africa, are our top priority.” 

“Partnerships are crucial for the EIB’s business and impact, and this partnership with Africa’s Bank is crucial for Africa.  The Action Plan signed with the African Development Bank today demonstrates the firm commitment of the European Investment Bank, the EU Bank, to delivering investment that makes a real difference to Africa. Enhancing our work with the African Development Bank, Africa’s multilateral development bank, is a strategic priority for the EIB and Europe. Together the EIB and AfDB will enhance cooperation and engagement with African partners to ensure that Africa emerges from the health, social and economic challenges of COVID-19 to an even brighter 21st Century,” said Thomas Östros, European Investment Vice President. 

Photo Credit : https://twitter.com/EIB/status/1351921420608135172/photo/1