Thomas Östros and EIB delegation to meet President Chakwera, Ministers, business and banking leaders
Vice President to highlight importance of climate action ahead of COP 27
European Investment Bank Vice President Thomas Östros will make a three-day visit to Malawi this week to strengthen cooperation with Malawian public and private partners, highlight new financing for agriculture and transport and visit EIB backed water projects..
This represents the first high-level visit to Malawi by the European Investment Bank, the world’s largest international public bank, since the start of the COVID-19 pandemic.
Over the last 45 years the EIB has provided more than EUR 462 million for energy, water, agriculture, transport and private sector investment in Malawi.
“The European Investment Bank, the EU Bank, is committed to supporting high-impact private and public investment across Malawi, including improving access to finance by smallholders and business and addressing the challenges of a changing climate. Malawi is a key country of operation for the EIB in Africa and the excellent cooperation with Malawian partners has transformed lives and strengthened priority infrastructure investment. My financial and technical colleagues and I look forward to discussing how to strengthen economic resilience to existing and new challenges, and enhance the impact of future EIB engagement in Malawi.” said Thomas Östros, Vice President of the European Investment Bank.
Supporting economic resilience in Malawi
The European Investment Bank has increased support for business investment in Malawi, across Africa and around the world to enable companies to better tackle challenges triggered by the COVID-19 pandemic and global energy shocks.
The EIB is owned directly by the 27 Member States of the European Union and has supported long-term public and private investment across Malawi since 1977.
EIB Global is the EIB Group’s new specialised arm dedicated to increasing the impact of international partnerships and development finance. EIB Global is designed to foster strong, focused partnership within Team Europe, alongside fellow development finance institutions, and civil society. EIB Global brings the Group closer to local people, companies and institutions through our offices across the world.
The EIB, Europe’s long-term lending institution, will provide EUR 15 million for investment by export focused agricultural companies in Malawi under a new lending initiative. The lending programme will be managed by First Merchant Bank (FMB) who will also provide EUR 15 million under the scheme.