It is on the African continent that we must step up our efforts the most, in order to attain the UN Sustainable Development Goals, EIB President Werner Hoyer stressed as he opened at the Africa Day conference in Addis Ababa on Thursday co-hosted by the EIB and UNIDO. “We need to have the right structures in place to facilitate private sector development and ‘crowd-in’ private sector finance”, the President of the EIB said in his opening address. “Together, we need to support a shift from aid to investment, from poverty to prosperity”
Africa Day 2018 – highlights
Watch the video and discover the best of what happened at the 2018 Africa Day conference in Addis Ababa, co-hosted by the EIB and UNIDO.
n the margins of its Africa Day in the Ethiopian capital, Addis Ababa, the European Investment Bank has signed a new fifteen year EUR 200 million loan agreement with the African Export-Import Bank (Afreximbank), aimed at supporting trade-related productive investments, including in renewable energy projects, in Africa. The facility will support promoters in more than 40 countries across Africa with long-term funding.
The European Investment Bank (EIB) and the United Nations Industrial Development Organization (UNIDO) have co-hosted the EIB Africa Day 2018 in Addis Ababa, Ethiopia. UNIDO’s Director General, LI Yong, and EIB President, Werner Hoyer, opened the high-level event, alongside H.E. Sahle-Work Zewde, President of Ethiopia.
The women featured in this video have one thing in common: they are inspired entrepreneurs with strong projects – whether it be to open a grocery stand in Kenya or to empower women to become Fashion Designers in Ethiopia – and have benefited from the support of the European Investment Bank.
Investment in Africa means jobs that don’t force people to leave their homes and families. Across Africa, approximately 15 million people have left their homes to find jobs as far away as Europe, the Gulf or the Americas. The EU bank finances businesses in Africa, creating jobs that allow workers to remain in their homes and near their families. Projects like those in Senegal featured in this film build Africa’s future by creating viable private sector companies.
On 26 September on the sidelines of the United Nations General Assembly, heads of state, high-level representatives of governments, development financing institutions and UN agencies, together with representatives of the private sector, non-governmental organizations and academia, met today at UN Headquarters to discuss how inclusive and sustainable industrial development can support the implementation of the African Continental Free Trade Area (AfCFTA) agreement.
Extreme poverty in Africa cannot be eradicated without a structural transformation of the continent’s economies. In order to achieve this objective, Africa must industrialize. It must also do so in a socially inclusive and environmentally sustainable manner. Promoting industrialization has therefore featured high on the agendas of African governments for decades.
The Programme for Country Partnership (PCP) is UNIDO’s innovative model for accelerating inclusive and sustainable industrial development in Member States. Aligned with the national development agenda and focused on sectors with high growth potential, the programme supports a country in achieving its industrial development goals.