As part of this initiative, the EU is contributing €15 million to fund technical assistance services.

These services will support the planning and development of projects in several critical sectors, including agriculture, energy, infrastructure, small businesses, digital technology, media, and raw materials.

This funding comes under the EU’s Global Gateway strategy, which seeks to mobilize €300 billion in global investments by 2027 for sustainable and impactful projects.

This collaboration is among the first major donor efforts that the EBRD will roll out in sub-Saharan Africa, following its recent decision to expand its operations to the region.

The technical assistance will involve feasibility studies and expert support to lay the groundwork for successful future investments.

EBRD President Odile Renaud-Basso emphasized the importance of the initiative, stating that the EU’s backing will help the EBRD begin meaningful work in the region.

She noted that the bank aims to apply its experience from other regions to support business growth and green development in these new countries.

Jozef Síkela, European Commissioner for International Partnerships, highlighted the broader goal of the collaboration.

He said the €15 million support will not only assist in launching specific projects but also help build the conditions necessary for the private sector to grow.

He stressed that the partnership is about creating a stable and transparent environment that can attract long-term investment and meet urgent local needs.

This initiative is expected to unlock significant opportunities for investment, providing a strong foundation for economic development in sub-Saharan Africa.