Zambia among six beneficiaries of $110 million EIB global agricultural development support

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Zambia is among six Sub-Saharan African countries set to benefit from a $110 million agricultural development financing package from the European Investment Bank’s development arm, EIB Global.

The announcement was made during a signing ceremony held on the sidelines of the World Food Forum in Rome by EIB Vice-President Gelsomina Vigliotti.

The financing aims to support the modernisation of processing plants for key commodities such as cashew and soy, as well as investment in storage and transport infrastructure across Mozambique, Malawi, Benin, Zambia, Tanzania, and Uganda.

Ms. Vigliotti said the funds will be channeled through a loan to Export Trading Group (ETG), one of Africa’s leading agribusiness supply chain companies.

She explained that the project will also strengthen ETG’s Farmer Extension Services (FES) programme, which promotes sustainable agriculture through training and technical assistance.
“These include technology and knowledge transfer to smallholder farmers and community-based initiatives that help farmers improve yields and adopt sustainable practices,” Ms. Vigliotti said.

She added that the initiative represents one of the largest EIB Global private-sector financing operations in Africa in recent years, highlighting the bank’s commitment to boosting agribusiness competitiveness, fostering climate resilience, and improving livelihoods.

“This partnership with ETG shows how targeted private-sector engagement, supported by EIB Global, can deliver real change. By unlocking sustainable investment, we are helping smallholder farmers and rural communities build a more resilient future,”Ms. Vigliotti

ETG Chief Treasury Officer Paul van Spaendonk has welcomed the agreement, describing it as a major step toward strengthening agricultural competitiveness and food security across the continent.

“This significant financing will accelerate our efforts to enhance agricultural competitiveness and food security across Sub-Saharan Africa. With this facility, we can drive impactful projects of varying sizes under a single umbrella, reaching more communities more quickly,” he said.

And during her keynote address at the World Food Forum held in commemoration of the 80th anniversary of the Food and Agriculture Organization (FAO) Ms. Vigliotti reaffirmed the EIB’s commitment to advancing agriculture globally, particularly in low- and middle-income countries (LMICs).

“Agriculture is at the heart of global development. The way we produce, distribute, and finance food will determine not only food security but also climate resilience, economic growth, and the livelihoods of millions of people,” she said. “The EIB plays a key role in supporting this transformation.”

Since approving its first agricultural loan outside Europe in 1965, the EIB has financed over 3,000 agricultural projects worldwide, amounting to more than €85 billion, with over 80 percent of that funding committed in the past decade.

This approach is underpinned by close collaboration with UN agencies, including FAO, IFAD, and WFP, combining financial resources with technical expertise to deliver impact even in fragile contexts. Notably, a €500 million loan to IFAD is already scaling up rural development and food security efforts in more than 70 countries, with a strong focus on Sub-Saharan Africa.

Earlier this year, at the Financing for Development (FfD4) Summit in Seville, the EIB strengthened its cooperation with FAO and WFP through a new Memorandum of Understanding, reaffirming its long-term commitment to sustainable agricultural growth.

Ends…………..

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