By BUUMBA CHIMBULU
VICE President of the European Investment Bank (EIB), Thomas Östros, is expected to be in Zambia from September 25-27 for a three-day business and agriculture investment visit.
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Accompanied by technical and financing experts from the EIB’s regional hub in Pretoria and Luxembourg headquarters, as well as the European Union (EU) delegation in Zambia, Mr Ostros would meet Zambian political, banking and business leaders, and international partners.
This is according to a statement issued yesterday by the EIB press office.
During the visit, he would formally sign the first financing under the EIB’s ground-breaking pan-African agricultural and agribusiness financing programme.
This agreement, made with Zambian partner First Capital Bank and backed by the EU, was set to unlock substantial investment opportunities in agriculture and agribusiness across the country.
It also demonstrated the EIB’s strengthened support for agricultural development and food security in Zambia and throughout Africa.
“Zambia is the first African country to benefit from EUR 400 million agriculture financing scheme.
“It 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,” the statement indicated.
Speaking ahead of the visit, Mr Östros recognised Zambia as a key partner for the EIB.
This visit, according to Mr Ostros, built on decades of close partnership backing private sector, water, and energy and transport investment.
“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,” Mr Ostros said.
Karolina Stasiak, Ambassador-Designate of the European Union to Zambia, welcomed the upcoming visit on behalf of the Delegation of the European Union to Zambia.
“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,” Ms Stasiak said.
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