Brussels, June 25 – OACPS Secretary-General H.E. Georges Rebelo Pinto Chikoti accompanied the OACPS Committee of Ambassadors on its annual visit to the European Investment Bank (EIB). The OACPS used this annual interaction between the two organizations to outline key priorities for economic development in its member states.

The team of OACPS Ambassadors was led by Dr. Jesse Jean, Ambassador of the Republic of Haiti and Chair of the Committee of Ambassadors, and supported by H.E. Therence Ntahijara, Ambassador of Burundi, in his role as Chair of the Subcommittee on Investment and Private Sector. Participants at the meeting, the first in three years due to the pandemic, underscored the importance of deepened collaboration between the OACPS and the EIB to drive economic progress.

Secretary-General Chikoti emphasized the urgent need to channel foreign investment into African, Caribbean, and Pacific regions. This, along with implementing the trade and economic cooperation provisions of the newly minted Samoa Agreement with the European Union, is required to bolster OACPS economic growth and development. “The OACPS is committed to partnering with the EIB for a resilient and prosperous future,” Secretary-General Chikoti stated. “We see great potential in sectors such as the sustainable extraction of critical raw materials, the blue economy, and renewable energy.”

Secretary-General Chikoti also stressed the need for investment in digital infrastructure to bridge the digital divide. He noted that the EIB could draw inspiration from its successful management of OACPS-EU private sector development programs, such as Boost Africa, which supports SMEs.

OACPS Assistant Secretary-General for Structural Economic Transformation and Trade, Mr. Junior Lodge, outlined the organization’s four-pillar strategy for private sector development, focusing on regulatory frameworks, entrepreneurship, competitiveness, and MSME financing. In implementing the OACPS PSD strategy, ASG Lodge highlighted the importance of advancing initiatives such as skills partnerships, sustainable food systems, and renewable energy transitions. “By aligning our strategic priorities and enhancing cooperation with partners like the EIB, the OACPS is determined to drive transformational change and meet the Sustainable Development Goals,” Assistant Secretary-General Lodge said.

Officials from the European Investment Bank (EIB) outlined their institution’s diverse set of objectives, including sustainable economic development, climate action, and support for less developed countries. The EIB’s strategic priorities include enhancing global infrastructure connectivity, promoting gender equality in its projects and investments, and assisting countries involved in EU enlargement and those affected by conflicts such as Ukraine. The EU bank allocates over 50% of its investment capital to climate action and environmental sustainability, with a strong focus on the least developed countries and fragile states to foster stability and development.

The officials said the EIB has committed to mobilizing one trillion euros by 2030 to support these initiatives, including building on investment projects outside the EU, totaling over 200 billion euros since 1963.