AU-EU Summit: Investing in a sustainable future
- Nov 29, 2017
- Nov 30, 2017
The fifth African Union-European Union (AU-EU) Summit took place on 29-30 November 2017 in Abidjan, Côte d'Ivoire. This year, the summit focused on common challenges and interests such as sustainable and inclusive development.
An EIB delegation led by President Werner Hoyer and Vice-President Ambroise Fayolle joined their partners in Abidjan and announced new financing for Africa, including:
- new support for young entrepreneurs, microbusiness and SMEs across Africa
- infrastructure projects providing drinking water to 1 million people in Cote d'Ivoire
- new transport routes to connect Madagascar from North to South
- modernisation of Senegal’s electricity system in rural areas, benefiting 55 000 people
- first EIB transaction with the African Export Import Bank to support trade-related investments and projects between Europe and Africa
- new support from the European Commission and the ACP group for the Boost Africa initiative, designed to support innovative start-ups through venture capital across Africa
- EIB press contacts
Three major agreements were signed by the European Investment Bank (EIB) this week on the margins of the Africa Union-European Union Summit that will deliver benefits for people across Africa: infrastructure projects for water in Cote d'Ivoire, transport routes in Madagascar and electricity modernisation for Senegal.
Ahead of the AU-EU Summit, the EU bank announced financing to support more than EUR 230 million of private sector investment across Africa. The new initiatives will enhance access to credit by smallholders and microenterprises, increase investment in health and education targeting low-income families across West Africa and promote financial inclusion of rural communities in Ethiopia, among others.
Africa Mobile Networks is bringing first time mobile signal to almost four million people in remote regions of Cameroon and the Democratic Republic of Congo. The European Investment Bank (EIB) has helped finance this landmark project.
Boost Africa, a joint initiative between the African Development Bank (AfDB) and the EIB, seeks to harness the continent’s potential and become the premier platform to launch globally competitive companies from Africa.
- The EU-Africa Business Forum (EABF) brings together business leaders and multilateral and regional institutions to discuss ways of improving the business and investment climate between Africa and the EU. The 2017 edition of the Forum will culminate on 27 November in the margins of the 5th AU-EU Summit.
- EIB colleagues Maria Shaw-Barragan, Head of Global Partners, Heike Rüttgers, Head of Division Development and Impact Finance, and Luca Lazzaroli, Deputy Head of Operations, will take part in the discussions. For more information, visit the event website.
- Signature of the financing line for Boost Africa initiative, a joint effort from the African Development Bank and the European Investment Bank, supported by the European Commission and the ACP Committee.
- With Heike Rüttgers, Head of Development and Impact Finance, EIB.
- Loan signatures mainly focused in Mali and Senegal for microenterprises.
- This is the first AU-EU Summit to be held in Sub-Saharan Africa. More than 5 300 participants are expected to attend the Summit, 83 of which are Heads of States representing both African and European countries.
- EIB President Werner Hoyer and Vice-President Ambroise Fayolle will take part in the event.
All times are Abidjan local times.
- More information on the AU-EU Summit on the official event website.