Signing ceremony and high-level announcement of Joint Partnership Action Plan between the European Investment Bank and the African Development Bank
| What: | Signing of Joint Action Plan outlining strengthened cooperation to support high-impact investment across Africa |
| Who: | Bajabulile Swazi Tshabalala, Acting Senior Vice President, African Development Bank and Thomas Östros, European Investment Bank Vice President |
| When: | 20 January 2021 – 14:00-14:30 GMT | 15:00-15:30 CET | 17:00-17:30 EAT |
| Where: | Virtual event with speakers from Abidjan and Luxembourg. |
The African Development Bank and the European Investment Bank will announce a Joint Partnership Plan outlining their strengthened cooperation to support investment that reflects the two institutions’ development priorities and objectives of meeting the public and private investment needs in Africa.
The event will take place virtually on 20 January 2021. The Joint Action Plan will be signed by African Development Bank Acting Senior Vice President Ms. Bajabulile Swazi Tshabalala and European Investment Bank Vice-President Thomas Östros.
There will be statements from representatives of both Banks highlighting details of African projects financed by both institutions, including climate and energy initiatives in the Sahel such as Desert-to-Power and the Great Green Wall Initiative. The meeting will also highlight the importance of this partnership in the current Covid-19 context.
A brief question and answer session will follow the signing. Kindly submit your questions in advance, using this link: https://app.sli.do/event/djdmouwk
Background information
The African Development Bank Group (AfDB) and the European Investment Bank (EIB) have a long history of cooperation, framed by their relationship as Multilateral Development Banks and a Memorandum of Understanding on an Enhanced Strategic Partnership, signed in 2005, between the EIB, the AfDB and the European Commission. Both institutions have also signed a Procedural Framework for co-financed public sector projects.
Over the past 5 years, the shared portfolio of the two institutions has grown to EUR 3.4 billion, leveraging investment totaling EUR 10.2 billion for 26 projects across the continent.
The global COVID-19 outbreak has raised the level of urgency to deliver emergency short-term crisis responses as well as appropriate measures to address the longer-term economic impacts in Africa. In addition, both institutions are looking to further their collaboration on region-specific initiatives supporting sustainable economic growth and security in regions facing particular challenges, such as the Sahel and Horn of Africa.
