Our work has direct impact on the local communities. Through our financing, citizens in the country have better access to drinking water and sanitation systems but also to energy supply. Investments in modern infrastructure are crucial to ensure health and economic development.
Supporting small entrepreneurs across Africa is one of our focuses, and thus at the heart of our contribution to the Team Europe Global Response to COVID-19. We aim to strengthen financial inclusion by boosting private sector investments and entrepreneurship, through selected local banks and financial institutions.
To this end, through our €10 million loan to Kafo Jiginew, the leading microfinance institution in Mali, over 15,000 entrepreneurs and farmers, especially women, can benefit from 60,000 microloans, to start-up or expand. One of these is Yiriwaton dairy, a small agricultural business that buys milk from 150 local families and makes it safe and sellable. The microloan helped to ensure electricity supply, essential to ensure milk cooling and storage, which led to an increase in milk production and jobs, thus improving lives in rural areas.
At a glance
The EIB provides finance and expertise for sound and sustainable investment projects in Mali.