EIB activity in the region
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Overview
Whether it is by improving access to vaccines to mitigate the economic consequences of the COVID-19 pandemic, the Russia-Ukraine war and global warming, securing sclean water, reliable transport, electricity and digital connectivity, our work in Sub-Saharan Africa has improved lives of millions of people, both in rural and urban areas.
EIB Global, our development arm, finances sustainable projects making use of natural resources that accelerate the green transition, in line with our Climate Bank Roadmap, while contributing towards the United Nations Sustainable Development Goals (SDG’s). In Tanzania, for example, we have implemented creative solutions to meet Africa’s water needs.In Gambia, we have secured reliable energy supply for thousands schools and health centres, Improved mobility and road safety in Guinea-Bissau and enabled three quarters of the population of São Tomé to access clean drinking water. We also joined forces with Afreximbank to support public healthcare and pharmaceutical production, our first intermediated health investment on the continent.
Despite being the least responsible of CO2 emissions, the continent is indeed the most impacted by severe weather events and food uncertainty, therefore African youth also sees climate change as their main concern.
For this, it is essential to protect the natural environment, such as the forests of the Congo Basin, vital (after the Amazon) to absorb the CO2 emitted by other continents or face sea plastic pollution, for which we launched the Clean Oceans Initiative.
Such global challenges add to the well-known critical factors that have so far hindered the continent to achieve its true economic potential, despite its wealth of natural resources and youngest and fastest-growing population on earth. All this leads many African people to move. Not only mass migration overseas, but also rural-urban migration, which on top of the natural population growth rate in cities, is the major cause of the rapid urbanisation and slum proliferation in Africa. Through the Mutual Resilience Initiative (MRI), we address migration and forced displacement, financing climate adaptation projects that build the resilience of vulnerable communities, urban development and social infrastructure in areas receiving large numbers of refugees or climate-related rural-to-urban migrants.
- Read lessOur priorities in the region are:
Private Sector development
We help the local private sector grow and create jobs. We improve access to finance for local micro, small and medium enterprises through selected financial intermediaries. We also provide loans to EU-based (or global) companies investing in the region, as well as local companies with high-growth potential and/or adding value to the local economy, including commercially-managed public sector companies.
Microfinance
We enhance access to finance for micro-businesses and microfinance institutions in the region. It helps micro-entrepreneurs, who often belong to vulnerable segments of the population, create and maintain their business.
Infrastructure
Solid socio-economic infrastructure is essential for businesses growth, therefore we support safer, more efficient, and low-emission public transport and the development of information and communications technology.
We also enhance access to more efficient energy services, while promoting the transition towards renewable sources.
We also finance the construction and renovation of schools and research facilities to support education, innovation and skills. Furthermore, we support irrigation, clean water and sanitation, solid waste disposal and pollution control projects.
Climate Action
Droughts, heatwaves and water scarcity are key concerns in the Southern Neighbourhood. Therefore, in line with our Climate Bank Roadmap, 20% of our financing in the region support climate action and environmental projects.
Healthcare
We enhance the deployment of healthcare infrastructure, equipment and other required materials. To face COVID-19 pandemic, we also supported COVAX.
Projects
EIB stories and videos in the region
We support projects that improve lives all over the world.
Watch our videos and read our stories on how our work improves the quality of life in Sub-Saharan Africa.
Our support for public and private sector projects in the region
Responding to the changing environment in the Southern Neighbourhood, we continue to diversify our range of financial products and advisory services to support projects enhancing growth and development in the region.
- Intermediated loans for micro, small and medium-enterprises
To encourage the development of the private sector, we make credit lines available to local banks or development financing institutions, so that they increase the volume of lending to local businesses.
- Direct loans (generally over €25 million) for private and public sector project promoters
To support mid or large companies that benefit the local economic and social infrastructure.
Private equity plays a key role in supporting economic growth. We therefore have helped to establish local investment funds and supported existing ones since the late 1990s. As a minor investor, our role is to attract other private capitals into our projects and thus to produce a financing multiplier effect, ultimately making further sources of funding available for our local counterparts.
We primarily invest or co-invest along with equity funds focusing on infrastructure or environmental projects, or provide equity or quasi-equity funding to small and medium-enterprises and Mid-Caps. Our private equity investments are always in line with our environmental and social standards.
We provide guarantees to micro, small and medium enterprises, mid and large corporates, banks and public sector promoters, to stimulate local capital markets, mobilise additional financial resource, reduce foreign exchange risk and government risk exposure. For details, see:
We provide advisory services and technical assistance supporting low-carbon infrastructure projects in urban areas and maximising their development impact. We also finance studies and activities to build the capacity of local banks and firms.
We work with the EU on a number of investment initiatives that help regions or sectors around the world.
- Economic Resilience Initiative (ERI)
- EFSD Guarantee
- EU Trade and Competitiveness Programme in Egypt, Jordan, Morocco and Tunisia
- FEMIP-trust-fund
- Mutual reliance initiative (MRI)
- NDICI - Global Europe mandate
- Neighbourhood Investment Platform
- Risk Capital Facility (RCF)
- SME Access to Finance Initiative
Our partnerships for global development
An important goal of EIB Global’s activity in the region is to identity co-financing opportunities and joint initiatives that maximise impact and efficiency, along with other EU institutions and international financial organisations that play a key role in fostering development.
Working with the European Union
The EIB is the EU’s international development bank. We promote the EU's principles, values and objectives and contribute to stable growth in countries beyond Europe’s borders. EIB Global, EIB’s arm dedicated to global development, works closely with the European Commission (EC) under the “Team Europe approach”.
Our operations in sub-Saharan Africa are backed by the European Fund for Sustainable Development Plus (EFDS+), established by the Neighbourhood, Development and International Cooperation Instrument (NDICI – Global Europe), the EU’s main financing tool to contribute to eradicating poverty and promoting sustainable development, prosperity, peace and stability.
EFSD+ also implements the Global Gateway strategy, including the Global Gateway Africa-Europe Investment Package.
Under the European External Action Service (EEAS) we cooperate with the EC to address key geo-political challenges in the continent. For more details on the EU cooperation with the UN in the field of agriculture. The EU’s external policy actions are always in line with the 2030 agenda for sustainable development, which is also reflected in initiatives such as the Africa-Europe alliance. Launched in 2018, the alliance seeks to boost employment and sustainable growth in Africa.
Working with the United Nations
We maintain strategic partnerships with key players in the region, sharing respective expertise on global issues and joining efforts to achieve maximum development impact.
We are a key partner of the UN towards the Sustainable Development Goals (SDGs) and collaborate with a number of UN agencies active in the continent (FAO, IFAD, WHO, UNDP, UNICEF, UN-Habitat, etc.).
Working with other development banks, international organisations and financial institutions
We take part in various multilateral working groups or events to tackle challenges in Africa and other global issues, such as the COVID-19 pandemic. Such cooperation is crucial to maximise impact.
We participated in the Break COVID Now Summit to improve global health security, by increasing availability and equal access to vaccines and enabling an expedient response to future pandemics. We regularly take part to the World Bank spring meetings and at the 2022 IMF-World Bank Group Annual Meetings.
Along with the African Development Bank (AfDB) Group, we invest in Africa in projects in the following sectors :
- climate action and environmental sustainability
- transformative large-scale infrastructure
- ICT infrastructure and services
- financial inclusion aimed at the empowerment of girls and women
- education and training
- the health sector
Boost Africa (eib.org) is a joint EIB-AfDB initiative with financial support of the European Commission and the Organisation of African, Caribbean and Pacific States Secretariat (OACPS) for private sector development, sustainable growth and poverty alleviation, towards the Sustainable Development Goals. Read more about other partnerships ++ (to open paragraph below)
Among others, we cooperate with:
- Food and Agriculture Organization of the United Nations (FAO)
- International Fund for Agricultural Development (IFAD)
- Islamic Development Bank (IsDB)
- United Nations Development Programme (UNDP)
- United Nations Industrial Development Organization (UNIDO)
- World Health Organisation (WHO)
- World Bank
- International Monetary Fund (IMF)
Dialogue with national representatives and development agencies
To tackle the challenges in the African continent, global issues as well as our lending and operational policies, we collaborate with various countries and development agencies. Under the Mutual Reliance Initiative, we cooperate with the French Agence Française de Développement (AFD) and the German Kreditanstalt für Wiederaufbau (KfW).
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