The European Bank of Investment in Luxembourg. PHOTO - EPA

The European Investment Bank and Global Development Network published on Wednesday an analysis of impact investment best practices from across Africa, alongside hosting their largest ever development impact virtual conference.

More than 350 private sectors, civil society, academic, and development finance leaders will take part in this week’s 3-day EIB-GDN conference.

The EIB-GDN conference, “Assessing the Development Impact of Private Sector Impact Investment”, builds on four years of comprehensive research cooperation and in-depth assessment of projects across Africa and the Caribbean.

Over three days, business leaders, civil society representatives and academics will join public, private, and philanthropic investors to exchange views and practical examples of how education, health, clean energy, digital, and business investment can contribute to lasting social, economic, and financial sustainability. Discussions will enable investors and project promoters to contribute to an accelerated and sustainable post-COVID recovery.

Ahead of the conference, the EIB and GDN published new research highlighting the impact of investments in healthcare, microfinance, financial services and other businesses, across Africa, based on analysis by young African economists supported by the EIB.

“Sharing technical expertise and local understanding of successful impact investment that provides an effective and lasting solution to development challenges is even more important given the global COVID pandemic. The European Investment Bank is committed to further strengthening the transformational and sustainable impact of our investment around the world,” said Ambroise Fayolle, European Investment Bank Vice President.

New analysis identifying successful social and economic impact from private sector investment in Ethiopia, Ghana, Kenya, and Senegal carried out by local researchers and published by the EIB and GDN on December 3, demonstrates the lasting contribution of innovative investment.

The joint research demonstrates that projects across Africa can transform local impact and be a model for global change. Rigorous research can be made a useful companion to impact investing that can help measure, report, and improve impact. I look forward to this week’s discussions and learning about local impact experience from experts from around the world.” said Pierre Jacquet, President of the Global Development Network.

Enabling African artisans to access international markets, using innovation to provide high-standard affordable maternal and child healthcare, and ensuring that microfinance targets the specific needs of poor women are three examples of recently supported EIB investment in Africa that were examined under a set of detailed new studies and shared with global development practitioners to help overcome similar policy challenges faced in countries around the world.

 This week’s conference allows practical academic, economic, social and governance best practices to be shared with social impact fund managers, venture capital investors, microfinance, and business investors engaged across Africa and around the world.

The European Investment Bank is the world’s largest international public bank and last year provided EUR 7.8 billion for new investment outside Europe, including EUR 3 billion for public and private investment across Africa.