- New European Investment Bank Regional Representation in East Africa inaugurated
- New Nairobi office opened by Cabinet Secretary, EU Commissioner and EIB Vice President
- First joint European Investment Bank – European Union facility in 14 years of Kenya presence
The new Nairobi based European Investment Bank East Africa regional headquarters was formally opened earlier today. For the first time in the EIB’s 14 year presence in East Africa the Nairobi team will be based alongside the European Union.
The expanded office will further strengthen support for transformational public and private investment across East Africa, enhance technical cooperation with African project promoters and financial partners and increase engagement with Kenyan and international stakeholders.
The new EIB East Africa Regional Representation on Waiyaki Way in central Nairobi was inaugurated by EIB Vice President Ambrosie Fayolle. The formal opening ceremony was attended by Kenyan, East African and international business, financial and political leaders, representatives of the diplomatic community and stakeholders.
“Since 2009 successful EIB support for projects that have benefited millions of people across East Africa has been enhanced by a strong team of African and international technical and financial experts here on the ground in Nairobi. Today’s opening of the new EIB’s Regional Representation in East Africa marks a new chapter in our close cooperation with government partners, private business and stakeholders in Kenya and across the region. Our new joint office demonstrates the EIB’s unique role as the EU Bank. This will enable ever better teamwork with EU colleagues to deliver on the European Union’s commitment to support sustainable investment across Africa in the year’s ahead.” said Ambroise Fayolle, European Investment Bank Vice President.
The European Investment Bank is the world’s largest international public bank and owned directly by the 28 European Union member states.
Strengthening European engagement in East Africa
The joint European Union – European Investment Bank office will ensure closer political, financial and technical coordination to further enhance the impact of European cooperation with Kenyan and regional partners.
“For many years the European Union and European Investment Bank have worked together to successfully support high-impact investment here in Kenya and across East Africa. The even closer cooperation from our new joint offices are already enabling new joint support in several key areas including for small holder farmers, for entrepreneurs and small businesses and for key infrastructure. We hope these investments will unlock new business opportunities and create jobs for a majority of the Kenyan population who are youth.” said Simon Mordue, European Union Ambassador to Kenya.
Centre of technical and financial expertise for transformational investment
The European Investment Bank Nairobi office is headed by Catherine Collin, EIB Regional Representative to East Africa, and includes a strong team of Kenyan technical experts and experienced financial professionals.
“Since 2003 the EIB’s engagement across Africa has been transformed through the presence on the ground of technical and financial experts, continued engagement with African based partners and stakeholders and in-depth knowledge of EIB African and international staff. We look forward to further strengthening cooperation with the European Union in our shared office and working together to improve existing and identify new areas of cooperation.” said Catherine Collin, European Investment Bank Regional Representative to East Africa.
The regional headquarters will also be used by EIB banking, social and environmental experts when preparing projects in East Africa.
New headquarters to building on strong EIB track record in East Africa
Over the last decade the European Investment Bank has provided more than EUR 1.4 billion to support renewable energy, improve communications, enhance access to clean water and accelerate private sector investment across East Africa.
In recent years the European Investment Bank has played a key role supporting transformative projects such as the Lake Turkana Wind Farm, Olkaria geothermal plants and Bujagali Dam, providing water and waste water infrastructure in hundreds of communities around Lake Victoria and improving access to finance through local microfinance and banking partners across the region.
The European Investment Bank has supported long-term investment across Africa since 1969 and has a permanent presence in Kenya since the first regional office was opened in 2005.