European Union bank to invest in SA universities, SMEs
The European Investment Bank says it is planning to avail funding to several small and medium enterprises and universities in South Africa with a view to contributing to development.
At the European House-Ambrosetti (THE-A) economic summit, Carmelo Cocuzza, the Bank’s head of regional representation in Southern Africa and the Indian Ocean, said these were amongst several investment opportunities that the European Union Bank was aiming for in the near future.
“We are now looking at funding educational projects, particularly in tertiary education. We are also talking to banks with a view of supporting small and medium enterprises financing in the private sector because there are many small project which we cannot finance directly,” he said.
The investment bank finances African projects that have synergy with European policies, including public-private partnerships.
Cocuzza said that the bank funded several other South African projects, and that the bank has invested over one billion Euros since 1994.