The COVID-19 pandemic and the war in Ukraine have severely affected Comoros, exacerbating already weak macroeconomic conditions. While benefiting from substantial aid from the diaspora and development partners during the pandemic, Comoros’ economic activity stagnated in 2020-2021. The expected recovery in 2022 was interrupted by Russia’s war in Ukraine and its spillovers on global commodity prices, with inflation reaching record double-digit levels in 2022 and a considerably worsened fiscal outlook. Effects of the shocks are expected to recede in 2023, with growth expected at 3 percent, although considerable uncertainty remains in the global outlook.

Policy Paper No. 2023/020

The European Investment Bank (EIB) and World Resources Institute (WRI) signed a memorandum of understanding on 15 April 2023 to support their shared objectives across a broad range of areas, focusing on climate action, biodiversity and nature-based solutions, agriculture and food, gender and social inclusion. The agreement will allow the two institutions to work together to create an enabling environment for investments in nature and human development.

Highlights from the EIB’s participation at the 2023 World Bank Group-IMF Spring Meetings.

EIB President Werner Hoyer and UN Secretary-General Antonio Guterres met on the side lines of the United Nations Financing for Development Forum in New York this week to discuss how the EIB can support the delivery of the Sustainable Development Goals (SDGs), help improve the functioning of Multilateral Development Banks (MDBs) and further strengthen the EIB’s own partnerships with UN bodies.

Antibiotice SA has been one of the leading Romanian-owned manufacturers of generic drugs for over 67 years. European Investment Bank (EIB) advisory experts will focus on exploring different avenues for the company’s expansion, including portfolio repositioning, product label extension, the incorporation of new generics, and building new research and development facilities to create differentiated, high-value generic drugs.

The Africa Fertilizer Financing Mechanism’s (AFFM) Governing Council committed to to mobilize funds to implement the AFFM’s Strategic Plan 2022 - 2028 to support the increased availability and appropriate use of fertilizer on the continent.

The African Development Bank Group will mobilise close to $4 million to help Burundi urgently procure over 3,000 tons of fertilizer over the upcoming agricultural season. The support will enable the country to procure fertilizer for the first phase of the season, which begins in May. The country’s needs for the...

In just over a month, African Development Bank Group governors will come together in Egypt to find ways to mobilize the robust private investment Africa needs to meet its urgent climate change adaptation and mitigation goals.

The Board of Directors of the African Development Bank Group has approved a trade finance transaction guarantee facility to Banque Commerciale Du Burundi (Bancobu).