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Across the African, Caribbean and Pacific regions, there is enormous potential, but each location faces its own challenges. By working together and ensuring that more investment is available, we build a better future for everyone.
The EIB report on Africa, the Caribbean and the Pacific explains how developing countries have different needs that require different solutions. But they all need to invest in roads, bridges, renewable energy, climate resilience, water, sanitation, telecommunications, as well as increasing and diversifying financial sector capacity to support small businesses. This is how they can create vibrant, sustainable economic growth.
Let us introduce you to some of the people who are helping to make a difference and improve lives across sub-Saharan Africa, the Caribbean, the Pacific and the Overseas Countries and Territories. We speak to a greengrocer in Burkina Faso, look at new climate-resilient social housing in the Dominican Republic and find out how a bank changes things for women who own businesses in Uganda. In 2019, the EIB invested almost €1.4 billion in projects in these regions. In this report, we give a breakdown of where our funding is going and take a close look at the impact of our investments.
Langan reclaims neo-colonialism as an analytical force for making sense of the failure of ‘development’ strategies in many African states in an era of free market globalisation. Eschewing polemics and critically engaging the work of Ghana’s first President – Kwame Nkrumah – the book offers a rigorous assessment of the concept of neo-colonialism. It then demonstrates how neo-colonialism remains an impediment to genuine empirical sovereignty and poverty reduction in Africa today. It does this through examination of corporate interventions; Western aid-giving; the emergence of ‘new’ donors such as China; EU-Africa trade regimes; the securitisation of development; and the UN Sustainable Development Goals. Throughout the chapters, it becomes clear that the current challenges of African development cannot be solely pinned on so-called neo-patrimonial elites. Instead it becomes imperative to fully acknowledge, and interrogate, corporate and donor interventions which lock many poorer countries into neo-colonial patterns of trade and production. The book provides an original contribution to studies of African political economy, demonstrating the on-going relevance of the concept of neo-colonialism, and reclaiming it for scholarly analysis in a global era.
Among other issues, this review looks at how the European Union has shown leadership in forging global agreements on sustainable development and climate change, and suggests the enhancement of a whole of EU approach in focusing on poverty reduction and countries that are most in need.
Africa is transforming itself. The continent stands ready to seize the opportunities arising from its young population, new technologies, new trade agreements and potential for productivity gains. However, the region needs a lot of help to fight deteriorating infrastructure, climate change, extreme weather events, social and political strife, persistent poverty, and the rising numbers of people leaving their homes to escape conflict or seek a better life. The European Investment Bank has been active in Africa for more than half a century, carrying out thousands of complex projects in all corners of the continent. We are concentrating even more on activities that create jobs and growth. We also are working hard on sustainable urbanisation, digital connectivity and gender equality.
Africa's recovery from the COVID-19 crisis will depend on private firms sustaining and creating jobs. But even previously thriving enterprises have been badly hit by the crisis. This report outlines the consequences of the health crisis in Africa, the potential cost of the recovery and the willingness of banks to support green investments as they look to the future.
In its fourth edition, this report focuses on recent developments in Africa's banking sectors and the policy options for all stakeholders. The study of banking sectors across all African sub-regions includes the results of the EIB survey of banking groups operating in Africa. Three thematic chapters address challenges and opportunities for financing investment in Africa: Crowding out of private sector lending by public debt issuance The state of bank recovery and resolution laws in Africa Policy options on how to finance infrastructure development. The report finds that in many African banking markets, the last two years saw a pause in financial deepening. However, a rising share of banking groups report improving market conditions and plan a structural expansion of their operations in Africa and a continued push for new technologies.