The European Investment Bank (EIB) and the Trade and Development Bank for Eastern and Southern Africa (TDB), have jointly launched an €81.5 million initiative over 12 years. The initiative is expected to unlock €163 million in investments to support private sector investment in Eastern and Southern Africa.

The EIB is currently linked by three lines of credit with the TDB. The European institution is the largest international public bank in the world and last year provided more than 5 billion euros for new investments in Africa. This EIB facility specifically dedicated to supporting the private sector in fragile contexts was officially launched this Thursday in Nairobi (Kenya) by Werner Hoyer, President of the European Investment Bank, and Admassu Tadesse, President Emeritus of the TDB and Group Managing Director, ahead of the official opening of the EIB's new Nairobi hub.