Sub-Saharan African entrepreneurs and businesses most impacted by the economic, health and social challenges triggered by Covid-19 will be able to benefit from a new €100-million private sector financing initiative backed by the Development Bank of Austria (OeEB) and the European Investment Bank (EIB). The programme will enhance access to long-term financing across sub-Saharan Africa, help to create thousands of jobs and accelerate sustainable development and poverty reduction. The first joint business financing supported by the two institutions will provide both direct loans to companies in Africa and financing managed by local banks.
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