The European Investment Bank (EIB) and the African Development Bank (AfDB) signed a partnership agreement to boost public and private sector investment in countries across the continent for shared development priorities.
The partnership’s action plan involves growing a shared pipeline of projects within the following themes:
- climate action and environmental sustainability;
- transformative large-scale quality infrastructure investment;
- information and communication technology infrastructure and services;
- financial inclusion with a focus on gender aimed at the empowerment of girls and women;
- education and training; and
- the health sector.
The AfDB and the EIB have been cooperating since 2005, when they, along with the European Commission, signed a 'Memorandum of Understanding on an Enhanced Strategic Partnership'. They have jointly supported clean energy, water, transport, and private sector projects across Africa.