EU investment bank has moved from Europe to Africa to provide solutions in green investment. Why could African banks not be interested? In a short announcement video, the European Investment Bank explains. At the same time as Europe, the continent can also act. Africa is going up to another step in its economic development.
It reminds that in 2020, investment increased around €10 billion for development projects across the world.
What it wrote on European Investment Bank paper:
Our lending to Africa increased 50% to €5 billion. We help the continent strengthen its economy, support local businesses, fight climate change, foster innovation and build sustainable infrastructure :
Poverty, inequality, environmental degradation, climate change — the world faces enormous challenges. The European Investment Bank helps low- and middle-income countries find innovative solutions to promote sustainable growth, human rights, reduce poverty and inequality, and improve lives.
Africa is going up to another step in its economic development even if it does conflict, drama in the continent.
In November 2021, EIB President Werner Hoyer and Vice-President Thomas Östros formally opened the EIB’s new Nairobi Hub with Kenyan Finance Minister, Cabinet Secretary Ukur Kanacho Yatani.
Thomas Östros, European Investment Bank Vice President declared
The EIB’s new Nairobi Hub will open a new chapter for the bank’s cooperation with Kenyan, African, Team Europe and global partners. It will allow the EIB to better respond to private and public investment priorities and build on best-practice engagement with project partners. It is a pleasure to be in Nairobi for the first high-level EIB visit to Africa since the pandemic and join political, business, banking and civil society stakeholders for today’s formal launch
We are honoured that the EIB has chosen Nairobi as the location for its regional hub. This is a testament to the growing importance of Nairobi as gateway to the East Africa region, and Kenya as a strategic partner to the European Union, through which we are engaging in different spheres, including trade and investment.”
The European Union Ambassador to Kenya, H.E Henriette Geiger noted.