The CEO of the European Bank for Reconstruction and Development is keen to enter sub-Saharan Africa. Last year, CEO Sir Suma Chakrabarti went one step further and floated the idea of continuing the push into sub-Saharan Africa. In its African Economic Outlook 2018 report, the African Development Bank estimated Africa’s infrastructure funding gap to be as much as $112bn annually, which gives the EBRD plenty of room to make an impact. The $1.8bn complex houses 30 solar power plants and was financed by a large consortium of development finance institutions (DFIs) including the EBRD. “One of the reasons why they should look at this question of sub-Saharan Africa is because of how successful we have been in North Africa,” says Chakrabarti.

Source: The North Africa Journal March 21, 2019 17:26 UTC