BAKU, Azerbaijan, May 22. The European Bank for Reconstruction and Development (EBRD) and the European Union (EU) have announced a joint initiative to identify and support new investment opportunities in Benin, Côte d’Ivoire, Ghana, Kenya, Nigeria, and Senegal, Trend reports.
As part of the collaboration, the EU will provide 15 million euros for technical assistance to help prepare projects across several strategic sectors, including agribusiness, energy, infrastructure, small business, critical raw materials, and digital and telecommunications. The funding comes under the EU’s Global Gateway strategy, which aims to mobilise 300 billion euros in sustainable and high-quality investments globally by 2027.
The support package represents one of the first donor contributions the EBRD will deploy in sub-Saharan Africa, following the Bank’s recent geographic expansion. The assistance will include feasibility studies and other preparatory work to help bring future investments to implementation stage.
“This agreement is a significant step to launch the EBRD’s work in sub-Saharan Africa,” said EBRD President Odile Renaud-Basso. “The strategic support from the European Union will help to foster enabling market environments and unlock concrete investment opportunities in key sectors.”
European Commissioner for International Partnerships Jozef Síkela stated: “This collaboration is an important step in driving sustainable development across sub-Saharan Africa. With €15 million in technical assistance from the EU, we are supporting the development of concrete projects and helping to create an environment where the private sector can thrive.”
The initiative is expected to contribute to creating a stable and transparent investment framework in the region, aimed at attracting long-term, sustainable capital and supporting economic growth.