European Investment Bank’s new €4 billion fund will support startups in Africa in 2020

European Investment Bank’s new €4 billion fund will support startups in Africa in 2020
Photo by Austin Distel / Unsplash

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, 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.