AfDB partners European Investment Bank to boost investment in Africa

The African Development Bank has partnered with the European Investment Bank to boost investment in Africa. This was finalized on Wednesday as they 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.”

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