The COVID-19 pandemic has caused a severe global economic and health crisis. The announcement is a welcome boost to support the long-term development objectives of African economies that have been negatively impacted by the crisis. It is the first time the G7 DFIs have come together to make a collective partnership commitment to the African continent.
Browsing: European Investment Bank
Ahmed, who stated this in Abuja at the EIB interactive meeting with its clients and other stakeholders in Abuja, said the plan would complement the Federal Government Economic Recovery and Growth Plan.
The European Investment Bank has finalized a $20 million equity stake in the new financing institution, alongside $50 million equity participation from the African Development Bank