European Investment Bank Vice President to make three day business and agriculture investment visit to Zambia
Thomas Östros, Vice President of the European Investment Bank, the world’s largest international public bank, will make a three-day official visit to Zambia next week. Engagement in Lusaka will reinforce the strong partnership between Zambia and the European Union and marks the first high-level EIB visit to Zambia since the launch of EIB Global.
During his visit from 25th to 27th September, Vice President Thomas Östros, accompanied by technical and financing experts from the EIB’s regional hub in Pretoria and Luxembourg headquarters, as well as the European Union Delegation in Zambia, will meet Zambian political, banking and business leaders, and international partners.
Zambia is the EIB's largest country of operation in southern Africa. Over the past five decades, the EIB has provided more than EUR 1.2 billion for priority business, water, energy, and transport investment across the country.
Speaking ahead of the visit Vice President Thomas Östros said "Zambia is a key partner for the European Investment Bank. During my visit to Lusaka I look forward to demonstrating our strengthened support for priority investment that improves lives and enhances economic opportunities across Zambia, and to confirming future opportunities through our new dedicated financing arm EIB Global. This visit builds on decades of close partnership backing private sector, water, energy and transport investment and will unlock new investment opportunities in the months and years ahead."
Karolina Stasiak, Ambassador-Designate of the European Union Ambassador to Zambia, welcomed the upcoming visit on behalf of the Delegation of the European Union to Zambia, saying, "The visit of Vice President Thomas Östros and EIB colleagues reflects the deepening cooperation between Zambia and the European Union. It underscores Team Europe’s shared commitment to advancing economic growth and development in Zambia and across southern Africa and opens up new opportunities in key sectors, such as access to finance for sustainable agriculture."
Zambia first country to benefit from EUR 400m pan-African agriculture investment initiative
During the visit Vice President Östros will formally sign the first financing under the EIB's groundbreaking pan-African agricultural and agribusiness financing programme.
This landmark agreement, made with Zambian partner First Capital Bank and backed by the European Union, is set to unlock substantial investment opportunities in agriculture and agribusiness across the country and demonstrates the EIB's strengthened support for agricultural development and food security in Zambia and throughout Africa.
Lusaka hosting EIB Southern Africa SME Banking and Microfinance Academy
On Wednesday, Finance Minister Musokotwane and Vice President Ostros and will open the EIB Southern Africa SME Banking and Finance Academy.
More than 100 regional banking leaders and international partners will attend the Lusaka academy, the 7th annual event, aimed stat promoting financial inclusion and supporting small and medium-sized enterprises (SMEs) in the region.
Lusaka will also host the unveiling of the EIB 2023 Financing in Africa report, which provides valuable insights into the banking and access to finance across the continent.
Building on 5 decades supporting of investment across Zambia
The European Investment Bank has supported public and private investment across Zambia since 1978.
This includes improving agricultural cold storage, financing pharmaceutical and textile production and horticulture, upgrading the Itezhi-Tezhi hydropower scheme, Kafue-Livingstone electricity transmission line and electricity distribution in Lusaka.
The EIB also backed recent rehabilitation of the Great East Road and Great North Road, financed large scale solar power at Ngonye and helped to improve water and sanitation services in Lusaka, Mufulira, Chingola and Chililabombwe.
Background information
The European Investment Bank (EIB) is the long-term lending institution of the European Union owned by its Member States. It makes long-term finance available for sound investment in order to contribute towards EU policy goals.
EIB Global is the EIB Group’s specialised arm dedicated to increasing the impact of international partnerships and development finance. EIB Global is designed to foster strong, focused partnership within Team Europe, alongside fellow development finance institutions, and civil society. EIB Global brings the Group closer to local people, companies and institutions through our offices across the world.
About the European Union (EU)
The European Union is an economic and political union of 27 European countries. It is founded on the values of respect for human dignity, freedom, democracy, equality, the rule of law and respect for human rights, including the rights of persons belonging to minorities. It acts globally to promote sustainable development of societies, environment and economies, so that everyone can benefit.
About Global Gateway
Global Gateway is the European strategy to boost smart, clean and secure links in digital, energy and transport sectors, and to strengthen health, education and research systems across the world. Through a 'Team Europe approach', Global Gateway brings together the EU, its Member States and their financial and development institutions to mobilise the private sector to leverage investments for a transformational impact. It aims to mobilise up to €300 billion in investments. Global Gateway is fully aligned with the UN’s Agenda 2030 and its Sustainable Development Goals, as well as the Paris Agreement.
Press contacts
Richard Willis, r.willis@eib.org, Tel.: +352 4379 82155, +352 621 555 758
Website: www.eib.org/press - Press Office: +352 4379 21000 – press@eib.org
Delegation of the European Union to the Republic of Zambia & COMESA, delegation-zambia@eeas.europa.eu, Political, Press and Information Section Tel. +260 97 125 98 25