European Investment Bank Plans Africa Expansion Amid Growth

European Investment Bank headquarters, Luxembourg

The European Investment Bank plans to open offices in four more African cities as it strengthens its foothold on a continent looking for financing to build infrastructure, said a senior official with the lender.

The EIB will open an office in Cameroon’s capital, Yaounde, later this year, followed by Abidjan in Ivory Coast, Zambia’s Lusaka, and Maputo, Mozambique in 2016, EIB Vice President Pim van Ballekom said in an interview.

“Africa is growing fast,” Ballekom said on Wednesday in Addis Ababa, the capital of Ethiopia, where he announced the EIB will provide 40 million euros ($43.8 million) to expand the country’s water and sanitation networks. The bank is due to open an office in Ethiopia on Thursday, according to Ballekom.

Read more: European Investment Bank Plans Africa Expansion Amid Growth – Bloomberg Business

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