Infrastructure Trust Fund for Africa

05/03/2007

On 23 April, European Commissioner for Development and Humanitarian Aid, Louis Michel, the representatives of Austria, Belgium, Spain, Italy, the Netherlands, Luxembourg, France, Germany and Greece, and the President of the European Investment Bank, Philippe Maystadt, signed a memorandum of understanding setting up a trust fund to finance infrastructure in Africa.

The Trust Fund is a financial instrument of the EU-Africa Infrastructure Partnership, one of the pillars of the new EU Strategy for Africa adopted by the European Council in December 2005. In the 2006-2007 start-up phase, the Community and its Member States have mobilised EUR 87 million for the Fund, and the EIB has made available EUR 260 million in the form of loans.

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