Resilient Africa: Opportunities for action E-Book

• Herausgeber: European Investment Bank
• Kategorie: Fachliteratur
• Sprache: Englisch
• Veröffentlichungsjahr: 2019

Seitenzahl: 33

Beschreibung

Africa's dynamic population, new technologies and potential for growth hold exciting opportunities for the whole region. The European Investment Bank plans to mobilise €100 million in investment in Africa by 2026.

Leseprobe

Resilient Africa

Opportunities for action

About the European Investment Bank

The European Investment Bank is the world’s biggest multilateral lender. The only bank owned by and representing the interests of the EU countries, the EIB finances Europe’s economic growth. Over six decades the Bank has backed start-ups like Skype and massive schemes like the Øresund Bridge linking Sweden and Denmark. Headquartered in Luxembourg, the EIB Group includes the European Investment Fund, a specialist financer of small and medium-sized enterprises.

Table of contents

Executive summary

Why Africa is a priority

Challenges and opportunities

Migration and economic stimulus

Making Africa resilient

Investments that attract investments

Partnerships and the private sector

Lessons that guide our actions

Looking ahead

Executive summary

Let’s think about Africa. The continent is transforming. It is seizing the opportunities arising from its young and dynamic population, new technologies, new trade agreements and great potential for productivity growth. It is a richly diverse region, with exciting possibilities in many sectors, from growing hubs of technology and start-up firms in Nairobi and Lagos to top financial centres such as Casablanca.

However, Africa needs more investment to become secure and stable and to grow its economies and tackle many development challenges. The European Union is Africa’s largest trading partner and investor. As the financial arm of the European Union, the European Investment Bank (EIB) can play a big role in helping Africa’s vibrant economies move to the next stages. We plan to mobilise €100 billion in investment to improve the lives of millions of Africans over the next seven years. This is more than double the amount of the Bank’s current investments.

Why is resilience so important for Africa? Resilience is the ability to withstand unexpected shocks, such as changes in global financial conditions, social and political upheaval, and natural hazards or weather disasters. African countries cannot readily cope with such shocks. Climate change adds further pressure, with fears of rising sea levels and increasing temperatures. Africa is threatened by climate change more than most areas of the world, even though it contributes least to the problem.

Sudden, mass movements of people are another shock. The European Union initially focused on the Syrian refugee crisis, but it recognises that this issue extends to Africa more generally and to other parts of the European neighbourhood. We understand the roles that countries play as hosts, transit routes and places of origin for refugees and migrants. The EIB helps address shocks such as these by supporting the long-term investment needs of countries where migration and forced displacement begin, but it also helps the areas that migrants pass through and their final destinations.

Making Africa more resilient gives it the ability to rebound from crises, while maintaining strong and inclusive growth. Investment in resilience is often cheaper than crisis management via humanitarian assistance. Investment in resilience needs to start soon after a crisis or in parallel with humanitarian aid, since resilience takes time to build. Otherwise, humanitarian support will take longer and cost more.

The European Investment Bank has been investing in Africa for over 55 years. We have acquired technical and financial expertise by implementing every type of complex project. We are now concentrating on investments that bring jobs and growth, sustainable urbanisation, digital connectivity and gender equality. Together we can achieve the UN Sustainable Development Goals and create opportunities for everyone.

The EIB plans to mobilise €100 billion in Africa over seven years for people, jobs, technology and the climate.

Why Africa is a priority

1.