EIB Global pledges more than €1 billion in support of Mission 300 Goals

• Mission 300, launched by the World Bank Group and African Development Bank Group, aims to connect 300 million people in Sub-Saharan Africa to electricity by 2030
• EIB Global’s pledge focuses on renewable energy projects under this initiative

The European Investment Bank (EIB) pledged to deliver more than €1 billion of financing for renewable energy projects in Sub-Saharan Africa, supporting the goals of Mission 300 – to bring electricity to 300 million people on the continent. EIB Group President Nadia Calviño announced the pledge at the EIB Group Forum.

The financing will be implemented through EIB Global, the EIB Group’s dedicated arm for development finance and international partnerships, and will support hydropower plants, large and small scale solar power plants, wind farms and energy networks, aligned with the EU’s Global Gateway strategy. 

The Sub-Saharan Africa-focused pledge is part of a broader push for renewable energy projects in the entire African continent which EIB Global expects to contribute more than €2 billion for over the two years, as announced by President Calviño at the Scaling up Renewables in Africa campaign in Johannesburg last November.

Laying out the pledge at the EIB Group Forum in Luxembourg, President Calviño also met with leaders of the World Bank Group and African Development Bank Group who initiated Mission 300, as well as the European Commission which guarantees a vast majority of the operations implemented by EIB Global.

“Joining our partners with a one-billion-euro contribution for renewable energy projects from the European Investment Bank shows Europe’s commitment to provide cleaner, more affordable and reliable energy for hundreds of millions of people in Africa. This is smart economics,” said President Calviño. “Nearly 600 million people in Sub-Saharan Africa are still living without access to electricity. When some are building walls, we build bridges - supporting international partnerships and win-win solutions for a more peaceful, stable, and prosperous world.”

Jozef Síkela, Commissioner for International Partnerships remarked, “Through Global Gateway, Europe is investing in clean energy that creates jobs, powers businesses and drives sustainable growth across Africa. Mission 300 shows how Team Europe turns partnerships into real opportunities. We deliver energy access and build prosperity and employment on both continents.”

Speaking from the EIB Group Forum, Valdis Dombrovskis, European Commissioner for Economy and Productivity and responsible for relations with the EIB Group said, “In a challenging world, the European Investment Bank Group remains the EU's key partner in implementing our policies on the ground and deliver real impact. Today's EIB pledge, strongly aligned with the Global Gateway strategy, is another example of how working together to mobilise investments can have a truly transformational impact. Supporting renewable energy projects in Sub-Saharan Africa not only brings the EU and Africa closer together, but also creates economic advantages and social benefits, while offering reliable and secure electricity to hundreds of millions.”

Ajay Banga, President of the World Bank Group, said “Mission 300 was designed as a platform — one that brings development banks, governments, philanthropy, and private capital together around a single objective: connections at scale. The EIB’s €1 billion pledge expands that coalition at a critical time. The momentum is real. What matters now is execution — and today’s commitment helps accelerate tangible progress on the ground.”

“EIB’s €1 billion pledge is precisely the partnership that Mission 300 needs and strengthens our platform at a pivotal moment. The African Development Bank Group is proud to stand alongside the European Investment Bank and our partners to turn this ambition into connections on the ground. When institutions of our scale move together with purpose, we create irreversible momentum. This announcement brings us measurably closer to the 300 million people who deserve the dignity and opportunity that electricity provides,” Dr Sidi Ould Tah, President of the African Development Bank Group highlighted.

EIB Global invested €3.1 billion in Africa in 2025. The key sectors were support for small and medium-sized enterprises through credit lines, and investment in venture capital funds, sustainable energy, transport infrastructure, water and health. Over the past four years, EIB investments have mobilised €73 billion across Africa.

Background information

The EIB Group

The European Investment Bank (ElB) Group is the financing arm of the European Union, owned by the 27 Member States, and one of the largest multilateral development banks in the world. In 2025, the EIB Group signed €100 billion of new financing and advisory services for over 870 high-impact projects in eight core priorities that support EU policy objectives: climate action and the environment, digitalisation and technological innovation, security and defence, territorial cohesion, agriculture and the bioeconomy, social infrastructure, strong global partnerships and the savings and investment union. Beyond long-term loans for large infrastructures, the EIB Group crowds-in private investment for high-risk innovative projects and businesses, with a growing role in Europe’s markets for venture debt, venture capital, guarantees and securitisations. 

The European Investment Fund (EIF) is the subsidiary of the EIB Group specialised in providing guarantees and equity to improve access to finance for small and medium size businesses and startups across Europe. Acting as an anchor investor, through its extensive network of partnering banks and investment funds, the EIF mobilizes private investment and nurtures the ecosystem of venture capital funds to support innovative European entrepreneurs. 

In 2023, the EIF together with six member states (France, Germany, Italy, Spain, Belgium and the Netherlands) launched the European Tech Champions Initiative, a fund of funds to scale-up innovative startups. As of February 2026, this initiative has already enabled the creation of 13 European venture capital mega-funds and scaled up 38 companies, including 11 unicorns (with more than €1 billion in capital). 

EIB Global 

EIB Global is the EIB Group’s specialised arm devoted to increasing the impact of international win-win partnerships and development finance, and a key partner of Team Europe and the Global Gateway strategy. EIB Global brings the EIB Group closer to people, companies and institutions through its offices across the world.  

Photos of the EIB Group's spokespeople and headquarters, logo files and video B-roll for media use are available here.  

Mission 300

Mission 300 is an ambitious initiative to connect 300 million people to electricity in the region by 2030. Led by the World Bank Group and the African Development Bank Group, Mission 300 brings together African governments, the private sector, and development partners to deliver affordable power, expand electricity access, boost utility efficiency, attract private investment, and improve regional energy integration that drives job creation and economic transformation.