Africa Investment Forum: Ambroise Fayolle outlines EIB’s plans for Africa
One of the institutions attending the Africa Investment Forum in Sandton this week is the European Investment Bank, which pumped millions of dollars into the continent at last year’s forum. CNBC Africa’s Fifi Peters is joined by the Vice President of the European Investment Bank, Ambroise Fayolle, to talk about the Bank’s plans for Africa going forward.
Mon, 11 Nov 2019 12:49:05 GMT
Disclaimer: The following content is generated automatically by a GPT AI and may not be accurate. To verify the details, please watch the video
AI Generated Summary
- The EIB's active role in the Africa Investment Forum demonstrates its dedication to supporting African entrepreneurs and fostering partnerships across the continent.
- Strategic project signings at the forum highlight the EIB's focus on initiatives promoting energy efficiency, SME finance, trade, insurance, and women entrepreneurship.
- Past successful projects funded by the EIB, such as renewable energy initiatives in Kenya and off-grid solar kits in Central and Western Africa, showcase the bank's commitment to sustainable development in Africa.
The European Investment Bank (EIB) continues to demonstrate its strong commitment to supporting African development as it participates in the annual Africa Investment Forum in Sandton. The Vice President of the European Investment Bank, Ambroise Fayolle, highlighted the importance of the forum for the bank and its dedication to fostering partnerships and financing projects across the continent.
The EIB, as the bank of the European Union, views the Africa Investment Forum as a crucial platform to engage with African entrepreneurs and innovators. The bank has significantly increased its presence at this year's forum, underscoring its eagerness to identify and support impactful projects that drive economic growth and create jobs. Partnering with the European Union and the European Commission, the EIB is proud to play a pivotal role in advancing sustainable development in Africa.
Fayolle expressed enthusiasm about signing strategic projects at the forum, emphasizing the importance of initiatives to promote energy efficiency, access to finance for SMEs, development of trade and insurance, as well as a significant investment in women entrepreneurship. The EIB's focus on supporting the private sector reflects its belief in the sector's potential to spur economic growth and create opportunities for both African and European companies.
Reflecting on the EIB's past commitments to Africa, Fayolle shared insights into successful projects financed by the bank. From supporting mobile technology entrepreneurs in Ethiopia to funding renewable energy initiatives in Kenya, the EIB has played a key role in driving impactful change across the continent. Projects like Lake Turkana wind farm in Kenya and the Delight off-grid solar kits in Central and Western Africa have showcased the EIB's dedication to promoting sustainable development and improving access to essential services.
With the looming departure of the United Kingdom from the European Union, Fayolle addressed concerns about the potential impact on the EIB's relationship with the UK. While the UK's exit from the EU would lead to its departure from the EIB, Fayolle reassured that the UK would remain a critical partner for development and project financing in Africa.
The EIB's participation in the Africa Investment Forum underscores its unwavering commitment to supporting Africa's development agenda and driving inclusive growth across the continent. Through strategic partnerships, innovative projects, and a focus on sustainable development, the EIB continues to be a key player in shaping the future of Africa's economic landscape.