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# European Investment Bank’s new €4 billion fund will support startups in Africa in 2020
- URL: https://www.techloy.com/european-investment-banks-new-eu4-billion-fund-will-support-startups-in-africa-in-2020/
- Published: 2020-02-26T00:00:00.000Z
- Updated: 2022-12-07T21:26:30.000Z
- Author: Techloy
- Tags: / Startups

The European Investment Bank (EIB) provided €3 billion in new financing to support investments in the private sector, across Africa, where it has provided more than €45 billion over more than 57 years.

Looking ahead, the EIB expects to significantly increase engagement in both sub-Saharan and North Africa and to provide €4 billion to support public and private investment across the continent in 2020.

According to a [statement from the Bank](https://www.eib.org/en/press/all/2020-066-eib-confirms-eur-3-billion-of-new-investment-across-africa-in-2019), it will include increased support for infrastructure that drives private sector growth, enabling job creation by entrepreneurs, start-up companies and corporates, and new financing for climate related investment and sustainable development.