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European Investment Bank works on strengthening cooperation with Congolese government

03 February 2020

Led by the ambassador of the European Union to Congo, Raul Paula MATEUS, the delegation of the European Investment Bank, on February 3, 2020, during a working visit to Brazzaville, had a meeting with the Minister of Development, Territorial Equipment and Public Works, Jean Jacques BOUYA.

A mission of great importance for this financial institution which intends to explore avenues, priorities as well as investment potential in the Republic of Congo and to have contacts with some members of government to see the possibility of strengthening partnership in several areas, especially in terms of infrastructure, especially with regard to Minister Jean Jacques BOUYA’s ministerial department.

With his interlocutor, the head of delegation of the European Investment Bank, Nicolaos MILIANITIS, Regional Director, made a brief overview of the financial institution and the role it plays in the Republic of Congo. “The EIB has been funding investments in the Republic of Congo for the past fifty years. It works to support long-term investments, to the improve living conditions and the economic development in the country”, said.

Among the key areas where long-term investment can promote economic development of Congo, Nicolaos MILIANITIS based in Yaounde, Cameroon, mentioned, among others, transport, access to energy, clean water and telecommunications. To these sectors he added the renovation of the Pointe-Noire autonomous port, which constitutes one of the Bank's most recent projects through a loan.

With a strong legal backing to accompany the digital economy, the Congolese market seems to attract partners. Indeed, the government has passed laws governing, among other things, electronic transactions and protection of personal data. These measures have undoubtedly aroused the interest of the European Investment Bank, which is currently on an exploratory visit with the aim of strengthening digital cooperation.

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