EIB launches new regional hub in Abidjan to strengthen its activity in West and Central Africa

During his official visit to Abidjan on Thursday 14 September 2023, EIB Vice-President Ambroise Fayolle unveiled the inaugural plaque officially launching the new regional hub for West and Central Africa at the EIB representation office in Abidjan. This is the second regional hub created by the EIB in Africa after Nairobi, Kenya.

“I am delighted to inaugurate this new regional hub for West and Central Africa in Abidjan. An important step is being taken today. We aim to implement our strategy in Africa even more effectively through the increased local presence of our technical, environmental and financial experts, and the development of new partnerships. By meeting the needs of stakeholders and project promoters more closely, our goal is to contribute to more inclusive and sustainable growth for local people,” said EIB Vice-President Ambroise Fayolle.

The new EIB regional hub in Abidjan is fully in keeping with the dynamic of the European Union's Global Gateway initiative, of which the EIB is a key partner, and EIB Global, the EIB’s new arm dedicated to international development and partnerships. It reflects the EIB’s determination to strengthen the impact of its sustainable investments in Africa and around the world, in close collaboration with its global partners and through the increased local presence of its technical, environmental and financial experts. In very concrete terms, it will enable the EIB to better respond to its private and public investment strategy thanks to the expertise and technical and financial support provided by its investments.

The new Abidjan hub will focus on sectors, products and services that more specifically address the needs of countries in West and Central Africa, such as climate, digital and health, as well as public and private infrastructure projects in the areas of water, energy and transport.

The new Abidjan hub will be headed by Mr Roger Stuart.

During his official visit to Abidjan, the EIB Vice-President also signed two important private sector financing operations totalling €91 million with COFINA and Banque Atlantique for Côte d’Ivoire and the region.

At the inauguration ceremony, Vice-President Fayolle reiterated that the EIB has been a key partner for Africa for many years. In 2022 alone, the EIB invested €4.2 billion to support the public and private sectors across the continent, of which €500 million in West and Central Africa. This involved tangible commitments for sustainable energy investments, focusing also on the development of telecommunications and the digital economy, improvements to healthcare, access to clean water and sanitation infrastructure, sustainable transport and business financing.

Background information

About the European Investment Bank

The EIB has been a strong partner of African countries for more than 55 years. Through EIB Global, the Bank is strengthening its presence in Africa. Over the past decade, the EIB has provided more than €28 billion for investment in innovative technologies, green energy, water, education, agriculture, telecommunications, healthcare, and businesses in 40 countries across the continent. Since the start of the pandemic in 2019-2020 alone, the EIB has provided more than €8.5 billion for new private and public investment across Africa.

EIB Global is the EIB Group's specialised arm devoted to increasing the impact of international partnerships and development finance. EIB Global is designed to foster a strong, focused partnership within Team Europe, alongside fellow development finance institutions and civil society. EIB Global brings the Group closer to local people, companies and institutions through our offices across the world.