EIB's Maria Shaw Barragan talks about the banks' projects in Africa

The European Investment Bank (EIB) has been actively involved in fostering development projects in Africa, with a focus on both the public and private sectors. Maria Shaw Barragan, the Director of Lending Operations in Africa, Caribbean, Pacific, Asia, and Latin America at the EIB, shared insights on the bank's initiatives during an interview with CNBC Africa's Chris Bishop at the EU-Africa Business Forum in Belgium. One of the significant projects highlighted by Shaw Barragan is the EIB's partnership in funding a bridge over the Senegal River between Mauritania and Senegal. This strategic infrastructure project is expected to enhance connectivity and boost economic development in the region. The EIB's collaboration with other financial institutions, such as the European Union and the African Development Bank, exemplifies the importance of multilateral partnerships in driving sustainable growth in Africa. Shaw Barragan emphasized the need to attract more private sector investments to the continent, citing the importance of creating investor confidence through transparent project assessments and monitoring mechanisms. Despite challenges such as governance issues and infrastructure gaps, Shaw Barragan remains optimistic about Africa's potential for inclusive growth and sustainable development. The EIB's efforts to support key sectors like digitalization, healthcare, and education underscore its commitment to improving the quality of life for African populations. By leveraging political support and engaging the private sector, the EIB aims to catalyze economic opportunities and address the root causes of migration, ultimately contributing to long-term stability and prosperity in Africa.