Boost Africa: EIB scales up support for thousands of young African entrepreneurs
April 21, 2021
The European Union, through the European Commission, and the Organisation of African, Caribbean and Pacific States (OACPS), has agreed to provide €60 million to the European Investment Bank and African Development Bank’s joint Boost Africa initiative, enabling it to support higher risk investment.
Four years after its launch, Boost Africa has created jobs and unlocked economic growth across Africa and helped to transform access to entrepreneurial finance. The Boost Africa initiative is providing €300 million to support targeted financing, provide technical assistance and share best practice for tech start-up companies, nature conservation, agriculture innovation and entrepreneurs across the continent.
Created by the European Investment Bank and the African Development Bank and driven by hands-on investment fund experts on the ground, Boost Africa is unlocking opportunities for hundreds of young entrepreneurs to drive innovation across Africa.
“I am proud that the European Union is extending its commitment to Boost Africa. This initiative shows how Africa and the European Union can work together to build a more prosperous future, by mobilising the younger generations”, said Koen Doens, European Commission Director-General for International Partnerships.