Boosting investment in Africa’s climate adaptation

The European Investment Bank (EIB) is working closely with the African Development Bank (AfDB) to boost investment in climate adaptation across Africa. The EIB's Head of Regional Representation for West Africa, Jane Feehan, and Head of Division Country Relations and Public Sector for Sub-Saharan Africa, Diederick Zambon, emphasize the importance of prioritizing climate resilience on the continent. Feehan highlights the EIB's long-standing presence in West Africa, with an active portfolio of approximately 5 billion euros in 16 countries. The EIB's investments in sectors like energy, healthcare, and water and sanitation have been instrumental in supporting economic development and stability in the region. Zambon underscores the significance of addressing climate change challenges in Africa, with a focus on private sector development and infrastructure improvements. The EIB has been actively supporting initiatives to enhance food security, healthcare systems, and access to quality education across the continent. Both Feehan and Zambon stress the collaborative efforts between the EIB and AfDB in co-financing projects and building a shared portfolio of impactful investments. Key projects like the Bonde Rosso dam in Senegal and Boost Africa, aimed at funding startups, demonstrate the successful partnership between the two institutions. Looking ahead, the EIB and AfDB are committed to strengthening their cooperation further, particularly in initiatives such as 'Desert to Power', which aims to scale up renewable energy investments in the Sahel region. The partnership is set to evolve with a focus on sustainable development, climate action, and economic resilience in Africa. As the global landscape continues to face challenges such as the COVID-19 pandemic and geopolitical tensions, the EIB remains dedicated to supporting African countries in building resilience and fostering growth. The partnership between the EIB and AfDB is poised to play a pivotal role in driving positive change and sustainable development across the continent. In conclusion, the future holds promising opportunities for collaboration between the EIB, the AfDB, and other multilateral partners to address pressing issues like climate change, healthcare access, and infrastructure development in Africa.