President Hoyer calls for shift from "aid to investment" in Africa
22 November 2018
It is on the African continent that we must step up our efforts the most, in order to attain the UN Sustainable Development Goals, EIB President Werner Hoyer stressed as he opened at the Africa Day conference in Addis Ababa on Thursday co-hosted by the EIB and UNIDO. “We need to have the right structures in place to facilitate private sector development and ‘crowd-in’ private sector finance”, the President of the EIB said in his opening address. “Together, we need to support a shift from aid to investment, from poverty to prosperity”
Investing in young people and women for a brighter future
“Africa needs more investment in human capital so that local knowledge and expertise can flourish”, Hoyer said. “Investing in human capital, while strengthening the appropriate legal and regulatory frameworks, will enhance project quality, improve sustainability and create an even brighter future for the African continent.”
“I welcome the Ethiopian government’s efforts to prioritise gender equality and equal opportunity”, Hoyer added addressing Ethiopia’s new President Sahle-Work.
The President and Vice President have been underlining the benefits of sustainable industrialisation for Africa, the central theme of the conference. Both visited EIB supported projects in Addis Ababa after meeting the President and Prime Minister of Ethiopia where they had a chance to hear from beneficiaries and project promotors.
Closing Africa Day Vice President Ambroise Fayolle said, “It is incumbent on all of us here – from Government, from actors like UNIDO and ourselves at the EIB, from the private sector as well – to find the right partnerships and means of collaboration to achieve the twin goals of sustainable industrialization and job creation that are so important to Africa. We have heard today about some of the challenges and stumbling blocks for Africa’s industrialization potential.”
The EIB, the EU’s climate bank, is supporting through the EIB Institute the new Sciences Po European Chair for Sustainable Development and Climate Transition launched on 25 November via an international conference.
The monumental work of art that marks the entrance to the European Investment Bank's headquarters in the Kirchberg district of Luxembourg City will be lit up in blue for World Children's Day on 20 November 2020.
The EIB, represented by Vice-Presidents Lilyana Pavlova and Ambroise Fayolle as well as the Head of the EIB Prague Office Nathalie Binet, and Andrea Ferjencikova, joined the Prague European Summit 2020 on 18 and 19 November to discuss with Czech and European partners common responses to current and future challenges for the European Union, such as climate change and the post-pandemic recovery.