The EIB announced the opening of a representational office that will act as a hub for investment projects in the Central African region.

The European Investment Bank (EIB), the bank of the European Union, today announced the opening of a representational office that will act as a hub for investment projects in the Central African region.

At a ceremony held earlier today the European Investment Bank, Europe’s long-term lending institution, formally opened a permanent regional representation office in Yaoundé, Cameroon. The new office will lead the engagement of the EIB, the world’s largest international public bank, in terms of supporting the development of long-term public and private sector investment in the region in partnership with the EU and managing relations with the national and regional authorities, as well as with the other international organisations based in the Cameroonian capital.

“The European Investment Bank has a strong track record in supporting crucial investment programmes across Africa and around the world. The opening of an office for the Central Africa region will help us to support crucial investment in infrastructure, water, energy and other key sectors, as well as backing private sector growth, essential for economic development. This is the fifth EIB office in Sub-Saharan Africa, which underlines once more the commitment of the EU bank towards the region, as well as the importance of Cameroon as a central hub in this area. We wish to thank the Cameroonian authorities and our European Delegation colleagues for their invaluable support in creating this office.” said Pim van Ballekom, European Investment Bank Vice-President.

“The European Investment Bank is the European Union’s bank and the new Yaoundé office will strengthen European support for crucial investment across Cameroon and the Central Africa region in the years to come.” said Ambassador Francoise Collet, Head of the European Union Delegation to Cameroon.

The official opening was welcomed by several Ministers of the Cameroonian government. Ambassadors from across Africa and Europe, representatives of other international finance organisations and the business community were also present.

The EIB has supported investment in Cameroon since 1965 and last year it provided more than EUR 850 million for investment across Africa. The Bank also introduced Andrea Pinna as head of the new office in Yaoundé. Mr Pinna has many years of professional experience in development banking in projects outside Europe.