European Investment Bank to open Mozambique office in 2016

27 August 2015

The European Investment Bank (EIB) plans to open an office in Mozambique’s capital in 2016 and before the end of this year in Yaoundé (Cameroon), Abidjan (Côte d’Ivoire), and Lusaka (Zambia), said the institution’s vice-president, Pim van Ballekom.

The EIB annually expends about 2.5 billion euros in Africa, a figure that could increase if the European Union member states so decide, as they are the shareholders of the bank created to support EU development policies in Africa and elsewhere.

“We could reach 10 billion euros, but we depend on the shareholders’ will,” van Ballekom said in comments to Bloomberg financial agency.

The EIB has applied more than 18 billion euros in the last 50 years in more than 1,300 projects in 92 countries and regional groups in Africa, the Caribbean and Pacific (ACP), most of them in countries on the African continent.

The new offices will join existing ones in South Africa, Egypt, Kenya, Morocco, Tunisia and Senegal. (Macauhub/MZ)