The European Union (EU), 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 (EIB) and the African Development Bank’s (AfDB’s) joint Boost Africa initiative, enabling it to support higher-risk investment. The EU and OACPS commitment will enable higher levels of risk for individual investments made by fund partners and support technical assistance to further strengthen entrepreneurial skills across Africa.
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