EIB pledges continuing support for South Africa

16 March 2010

South Africa will continue to benefit from funds from the European Investment Bank (EIB), according to the vice president of the body responsible for Africa.

Plutarchos Sakellaris is on an official visit to the country and pledged the EIB's support for investments in South Africa.

In 2009 the institution provided €280 million (£253.9 million) for investments in the country, which went towards projects such as infrastructure and road developments as well as energy plans.

"We wish to continue this strong contribution to infrastructure and economic development, particularly in infrastructure and private sector support," Mr Sakellaris said at the start of his four-day official visit.

He will go on to meet with various South African officials, such as the Finance Minister and bank chief executives.

Mr Sakellaris said he looks forward to seeing how the projects that used EIB funding will develop in the near future and improve the life of many South Africans.

In 2009, the EIB approved projects worth a total of €103,898 million.

Category: General