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Radio France Internationale

World

RFI

Why Europe is banking on Africa for its big-ticket investments

AF Africa Europe RFI EIB European Union the European Investment Bank Côte dIvoire Renewable Energy Internet

Panels of a 50 megawatt solar farm outside of Nouakchottin Mauritania. Renewable energy is a major driver of economic growth on the continent. AFP - MED LEMINE RAJEL

The European Union is investing heavily in Africa – pouring half of its global mega budget of €300 billion into projects on the continent. Renewable energy, internet access, transport, vaccines and education are several sectors benefiting from private and public EU funds – an effort that’s being supported by the European Investment Bank (EIB). RFI spoke to vice president Ambroise Fayolle about the bank’s strategy for Africa.

RFI: Why is the EIB interested in investing in Africa?

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