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Development financing: EIB World releases 62 million euros for the African private sector

18/02/2022
Categories: Companies

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The sectors of technology, banking and agriculture in Africa have just benefited from a financing of 62 million euros. This fund granted by the European Investment Bank will make it possible to support players in the sectors concerned.

Established in early 2022, EIB World is a new branch of the European Investment Bank solely dedicated to international partnerships and development financing outside the European Union. In total, BEI Monde approved 62 million euros on February 16 for players in the African private sector, during the EU Africa Business Forum, a professional forum organized on the sidelines of meetings between European and African leaders who will take place from 17 to 18 February in Brussels. the new financing approved is intended in particular for investment in young African start-ups such as Atlantica Ventures (12.5 million euros) or the venture capitalist Janngo (10 million), created by the Senegalese Fatoumata Ba, or even the specialist microfinance Grameen Crédit Agricole (10 million), which plans to "support more than 36,000 jobs" on the continent, but also the European Solidarity Financing Fund for Africa (Fefisol; 5 million euros) with a view to supporting players in the agricultural world. First Capital Bank in Malawi raises €12.5 million to support “smallholder farmers”, while Commercial Bank-Cameroon raises €12 million to “support business resilience in the face of the Covid pandemic -19”.

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