Friday
January 22
2021

African Development Bank, European Investment Bank Seal Deal to Enhance Africa’s Development

By Obinna Chima

The African Development Bank (AfDB) and the European Investment Bank (EIB) yesterday signed a joint partnership action plan on how to boost public and private sector investment in Africa.

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.

According to a statement, the focus of the partnership 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.

The signing comes amid the ongoing COVID-19 pandemic which is increasing poverty across the African continent and threatening markets and livelihoods, heightened the urgency for action, the statement added.

Source: THISDAY LIVE (link opens in a new window)

Categories
Environment
Tags
climate change, coronavirus, environment, financial inclusion, gender lens, impact investing, sustainability