At its annual conference in January, the European Investment Bank highlighted the €76.8 billion it invested in 2020 — 87% of which went to European Union countries, with 13%, or over €10 billion, invested in non-EU nations. It also unveiled its operational plan for 2021, which largely focuses on economic recovery following the COVID-19 pandemic but without abandoning other priorities such as climate and environmental sustainability.
EIB has grown from the EU’s lending arm into one of the key financial institutions across the globe. Over time, it has established a presence in Africa that will likely expand in the coming years as part of the EU’s external action plans. As it vies with the European Bank for Reconstruction and Development for a greater role in steering EU investments in Africa, it is also trying to work more closely with EU delegations to enhance its presence beyond its Luxembourg headquarters.
The bank has also entered into key agreements and partnerships focused on the region. The Africa Investment Platform, launched in 2015, aims to address funding gaps in sub-Saharan Africa, and Boost Africa, launched in 2016 as a joint initiative with the African Development Bank, seeks to create opportunities for young entrepreneurs.