The European Investment Bank (EIB) is organising the fourth annual Banking Forum, an event for knowledge sharing and learning in the financial sector. The focus of this year’s forum on 27 and 28 November in Dakar will be: Financial inclusion: Approaches to the intersection of agriculture, gender and climate. The forum supports the financial sector in West and Central Africa and provides the EIB with an opportunity to strengthen relationships with its partners.
Over the last two years, the EIB has invested almost €1.5 billion into the banking sector in sub-Saharan Africa in order to further EU Global Gateway objectives, which include improving access to financial services, creating sustainable jobs and bolstering financial autonomy for young people and women.
In particular, African countries are struggling to create economic opportunities in rural areas, raise awareness of the socioeconomic role of women, and adapt to climate change. The financial inclusion of women and young people is key to boosting fair and sustainable growth. This forum aims to be a space for reflection and dialogue to explore innovative approaches that meet the specific needs of remote and vulnerable communities. It has a particular focus on women and farmers, who are facing a rising number of climate-related challenges.
The European Union’s Investing in Young Businesses in Africa (IYBA) initiative will lead the first day of the forum. Attendees will have the opportunity to listen to the experiences of people who have benefited from accessible financial services. In addition, debates and interactive presentations will highlight the key role that financing sustainable agriculture can play in empowering women, while also responding to the challenges of climate change. In addition, financial institutions from West and Central Africa will reflect on their role in empowering women, developing a more sustainable agri-food sector, and integrating climate challenges into financial operations.
The EIB Banking Forum will allow banks and financial institutions from West and Central Africa to discuss potential strategies for incorporating climate issues into their financial practices. It will encourage regional cooperation by sparking discussions on making the agri-food sector more resilient and sustainable, all while sharing concrete solutions to address the environmental, social and economic challenges facing the region.
EIB Vice-President Ambroise Fayolle said: “This fourth annual Banking Forum in Dakar will focus on the financial inclusion of women and young people, with the aim of creating more equitable and sustainable growth. Another important consideration will be the specific needs of isolated and vulnerable communities, who are facing a rising number of climate-related challenges in the agriculture and agri-food sectors. This forum constitutes direct support from the EIB for stakeholders and partners in the Senegalese financial sector, as well as in the Central and West African financial sector as a whole. As the EU climate bank, our ambition is to involve the climate in every financial operation, and we are pleased to share this vision – alongside the European Union as part of the Team Europe initiative – with all players in the world of finance.”
Ambassador, Head of the Delegation of the European Union in Senegal Jean-Marc Pisani said: “The European Union is reaffirming its commitment to supporting women and young people through initiatives such as Investing in Young Businesses in Africa (IYBA), by providing them with the necessary tools to adapt to climate change, while also strengthening their resilience and financial autonomy. Financial inclusion helps to implement the Global Gateway strategy by fostering inclusive, sustainable and resilient economic growth at the intersection of agriculture, gender and climate. This forum is a valuable opportunity to make a collective effort to mobilise our resources.”
Background information
About IYBA, a Team Europe initiative
The Investing in Young Businesses in Africa (IYBA) initiative aims to help startups and entrepreneurs in Africa launch and grow their businesses. It does so by improving access to financial and technical support from the very beginning, and also by supporting incubators, accelerators and other support structures in order to strengthen the local entrepreneurial ecosystem.
IYBA is part of the Team Europe approach, which comprises the European Union and its Member States, including their development agencies, development finance institutions, the European Investment Bank (EIB) and the European Bank for Reconstruction and Development (EBRD). The initiative is fully aligned with the EU Global Gateway strategy. The IYBA initiative also has a particular focus on female entrepreneurs, notably through the IYBA Women Entrepreneurship for Africa programme (IYBA WE4A).
Small businesses led by women are an important and dynamic part of African economies, but are also subject to difficulties that limit their growth potential. To unlock their full potential, IYBA WE4A seeks to build business capacity, improve access to financial services, and to boost growth opportunities for female entrepreneurs in Africa leading businesses in the green sector.
The aim of IYBA WE4A is to develop sustainable and inclusive businesses. It offers entrepreneurship training, as well as coaching for female African entrepreneurs to help them make the necessary preparations to receive investment and financing products. It also helps to expand effective technical and financial services offered by local and regional entrepreneurial ecosystems.
About the European Investment Bank
The European Investment Bank (ElB) is the long-term lending institution of the European Union, owned by its Member States. It finances investments that contribute to EU policy objectives.
The EIB has been a strong partner for African countries for 60 years. Through EIB Global, the Bank is strengthening its presence in Africa. Over the last decade, the EIB has provided more than €28 billion for investments in innovative technologies, green energy, water, education, agriculture, telecommunications, digital economy, healthcare, and businesses in over 40 countries across Africa. Since the start of the COVID-19 pandemic and in 2019-2020 alone, the EIB provided more than €8.5 billion for new private and public investments in 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 EIB Group closer to local people, companies and institutions through our offices around the world.
About the European Union
The European Union is an economic and political union of 27 European countries. It is based on the values of respect for human dignity, freedom, democracy, equality, the rule of law and respect for human rights, including the rights of people belonging to minorities. It works globally to promote the sustainable development of societies, the environment and economies, so that everyone can benefit from it.
About Team Europe
The Team Europe approach means joining forces so that our joint external action becomes more than the sum of its parts. By working together and pooling our resources and expertise, we want to be more efficient and make a greater impact.
Team Europe consists of the European Union, EU Member States – including their implementing agencies and public development banks – as well as the European Investment Bank (EIB) and the European Bank for Reconstruction and Development (EBRD).
Team Europe was initially put in place to ensure that the EU and its Member States could organise a coordinated and comprehensive response to the COVID-19 pandemic and its consequences. The new approach has quickly become the backbone of Global Europe (the main financial tool for EU international cooperation from 2021 to 2027) and its programming. It notably includes the conception of Team Europe Initiatives, which are the flagships of the Team Europe approach. Fundamental to all is a renewed and reenergised EU ambition to work better together, as originally outlined in the 2017 European Consensus for Development.
About the Global Gateway
Global Gateway is the European Union’s strategy to narrow the global investment gap and boost smart, clean and secure links in the digital, energy and transport sectors, and to strengthen education, health and research systems. It offers sustainable investment opportunities to increase prosperity and improve security for our global partners and for Europe.
The Global Gateway strategy embodies a collaborative approach that brings together the European Union, EU Member States and European development finance institutions. Together, we aim to mobilise up to €300 billion in public and private sector investments between 2021 and 2027.