UN Secretary General, Prime Minister of Portugal, European Commission President and EIB President join leading government and business figures, civil society and financial partners to share best-practice and innovative support for green investment across Africa.
EIB confirms record EUR 5 billion engagement in Africa last year and unveils EUR 350 million of new support to strengthen access to green energy and clean water for millions of people across Africa
Lisbon Forum follows the Green Talks which gathered more than 3,000 development partners in Africa and Europe over the last month
African and European political, business and civil society partners at today’s at the High-Level EU-Africa Green Investment Forum stressed the crucial need to accelerate new investment across Africa to deliver sustainable development and create opportunities from the green transition, alongside strengthening economic recovery from COVID-19.
The High-Level EU-Africa Green Investment Forum is one of the largest dialogues ever between the EU and Africa focusing on investment in Africa.
Opened by United Nations Secretary General Antonio Guterres and European Commission President Ursula von der Leyen, the event brought together participants from around the world who shared best practices to accelerate sustainable investment, enhance digitalisation and strengthen economic resilience in Africa.
“Unlocking sustainable investment and enabling even closer partnership between Africa and Europe to deliver high-impact investment is a key priority for the EU Portuguese Presidency. At Green Talks across Africa and Europe over recent weeks and here in Lisbon today, the EIB and development partners have brought together insight and ideas from thousands of financial, technical and environmental experts. Increasing dialogue between business, political and development partners is crucial to learn from each other and ensure that best-practice solutions learnt in Africa and Europe can enhance sustainable development to create economic opportunities and improve lives. Together we share a common goal of accelerating the green transition and sustainable investment that builds a better future after COVID-19.” said António Costa, Prime Minister of Portugal.
“The European Investment Bank has built a unique expertise in supporting sustainable investment across Africa. At the EIB we are committed to building on our record €5 billion engagement across Africa last year and contribute to a better future for millions of people. As highlighted both here in Lisbon, and by President Biden in Washington, it’s high time for climate action to tackle climate change and environmental degradation. Cooperation is essential to ensure a green and global recovery. Through the EU-Africa Green Investment Forum and earlier Green Talks, the Portuguese Presidency of the Council of the EU and EIB are sharing solutions that can accelerate a green and inclusive transition in the recovery from the COVID-19 pandemic.” said Werner Hoyer, President of the European Investment Bank.
“The African Union and the European Union are committed to enhancing opportunities from the green transition and working with public and private partners to deliver sustainable development across Africa. Today’s EU-Africa Green Investment Forum, and Green Talks over the last four weeks, demonstrate the commitment of the Portuguese Presidency of the European Union and the European Investment Bank to further strengthening cooperation between African and European partners. This dialogue is harnessing innovative ideas and sharing technical expertise to strengthen the impact of future investment that improves lives for millions of people across Africa through delivering sustainable development.” said Josefa Sacko, African Union Commissioner for Agriculture, Rural Development, Blue Economy and Sustainable Environment.
Building on record EIB engagement in Africa
In 2020 the European Investment Bank provided EUR 5 billion to improve access to finance and venture capital, renewable energy, clean water, communications, healthcare, housing and sustainable transport across Africa, alongside strengthening economic resilience to COVID-19 and enabling delivery of safe and affordable vaccine through COVAX.
This represents the largest annual engagement in 56 years of financing new transformational private and public investment on the continent.
EIB announces €350 million of new sustainable investment across Africa
During the EU-Africa Green Investment Forum, the EIB unveiled €350 million of new financing and technical support to distribute green energy across west Africa, scale up off-grid solar in Chad and the Comoros and improve access to clean water in Malawi.
Global commitment to build a greener and better future in Africa
Participants, including Ministers from across Africa and Europe, the President of the African Development Bank and European Bank for Reconstruction and Development, CEO of the Portuguese EDFI SOFID, business leaders community groups and parliamentarians highlighted how innovation and close cooperation can scale up clean energy, sustainable transport and business investment in Africa.
Expert speakers highlighted how the green transition can creates economic opportunities, strengthen economic resilience to COVID-19, and increase protection from a changing climate while ensuring more sustainable use of natural resources.
The Portuguese Presidency of the Council of the European Union, in partnership with the European Investment Bank (EIB), will be hosting 30-days of dialogue on green transition and green investment between African and European partners. Events and virtual meetings will take place across Africa and Europe, beginning on 24 March and culminating on 23 April, with the High-Level EU-Africa Green Investment Forum being held in Lisbon.
Ministers of State for Foreign Affairs from Germany and Portugal and EIB Vice President Thomas Östros today joined more than 80 business leaders, diplomats from Africa and Europe, financial experts, and development specialists at the Berlin Green Talk to share investment best practice and outline how to accelerate the green transition in the context of EU-Africa relations.
In 2020 the European Investment Bank provided EUR 5 billion for new private and public investment across Africa. This represented the largest annual EIB engagement in 55 years of operations on the continent and the largest support for climate action and investment in fragile states.