The European Investment Bank (EIB) Group has committed more than €1 billion to finance renewable energy projects in Sub-Saharan Africa, throwing its weight behind Mission 300 — a global initiative aimed at bringing electricity to 300 million people across the continent, as announced in an official statement published by the EIB. EIB Group President Nadia Calviño unveiled the pledge at the EIB Group Forum in Luxembourg, where she also met with leaders of the World Bank Group and the African Development Bank Group — the institutions that launched Mission 300. The financing will flow through EIB Global, the Bank’s development finance arm, and will cover hydropower, solar, wind, and energy network projects aligned with the EU’s Global Gateway strategy.
Nearly 600 million people in Sub-Saharan Africa still live without access to electricity — a figure that sits at the heart of this pledge. The €1 billion commitment for the sub-region is part of a broader African push, with EIB Global expecting to contribute more than €2 billion across the entire continent over the next two years.
President Calviño framed the pledge in blunt terms: “This is smart economics.” She added that “when some are building walls, we build bridges — supporting international partnerships and win-win solutions for a more peaceful, stable, and prosperous world.” World Bank Group President Ajay Banga welcomed the move, calling it an expansion of Mission 300’s coalition “at a critical time” and stressing that “what matters now is execution.” African Development Bank Group President Dr. Sidi Ould Tah was equally pointed, saying the pledge “brings us measurably closer to the 300 million people who deserve the dignity and opportunity that electricity provides.”
The announcement lands on a strong track record. EIB Global invested €3.1 billion across Africa in 2025 alone, spanning credit lines for small businesses, venture capital, sustainable energy, transport, water, and health. Over the past four years, EIB investments have helped mobilize €73 billion across the continent — numbers that give the new pledge real institutional credibility.
European Commissioner for International Partnerships Jozef Síkela captured the broader logic, noting that clean energy investment “creates jobs, powers businesses and drives sustainable growth across Africa.” The Mission 300 pledge is not just about keeping the lights on — it is about building the economic foundation that energy access makes possible, on both sides of the partnership.
