After dedicating EUR 3 billion in new financing to Africa in 2019, the European Investment Bank (EIB) plans to « significantly increase its commitment and provide EUR 4 billion to support public and private investment across the continent in 2020 », the European Union’s public bank said in a statement on 24 February. According to the financial institution, « this will include increased support for infrastructure that fosters private sector growth, enabling job creation by small businesses, start-ups and large companies, and making new financing available for climate and sustainable development investments ».