AfDB, EIB sign Agreement to Boost Investment in Africa - News at its peak

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AfDB, EIB sign Agreement to Boost Investment in Africa

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The African Development Bank and the European Investment Bank on Wednesday, signed a joint partnership action plan highlighting their strengthened cooperation and mutual development priorities and a strong shared emphasis on boosting public and private sector investment in Africa.

AfDB said this in a statement titled ‘African Development Bank, European Investment Bank sign joint partnership action plan to fast-track development in Africa’.

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

It stated that, “These themes are: climate action and environmental sustainability; transformative large-scale quality infrastructure investment; Information and Communication Technology infrastructure and services;

“Financial inclusion with a gender lens aimed at the empowerment of girls and women; education and training; and the health sector.”

Also, during the Africa Investment Conference, a virtual one-day event organised by the UK Department for International Trade, which brought together UK and African business and government leaders to discuss investment and partnership opportunities, AfDB’s President, Akinwumi Adesina, said that Africa remained fertile ground for investment.

He however noted that much was hinged on the continent’s ability to boost its healthcare sector.

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