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Green investment and its importance were highlighted in recent dialogues between the European Investment Bank, the Portuguese Embassy in Kenya, the financial community, and development stakeholders.

“Recent innovative investment across East Africa has transformed access for millions of people to clean water, renewable energy and finance essential for a better and more sustainable future. Today’s Nairobi Green Talks allow innovative solutions and technical best-practice to be shared with the rest of Africa and the world.

The East African Community commends the Portuguese Presidency of the European Union and the European Investment Bank for their engagement with East African partners to further strengthen sustainable investment in the years ahead.” said Dr Peter Mathuki, incoming Secretary-General of the East African Community.

The Secretary-General of the East African Community joined more than 150 African business leaders, financial experts and diplomats in the Nairobi EU-Africa Green Talk to share investment best practice and outline how to mobilise private sector support for sustainable development across Africa.

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Partnership between Africa and Europe are key

Luisa Fragoso, Ambassador of Portugal to Kenya, highlighted the importance of a partnership between Africa and Europe being key to increasing investment essential to combating climate change and creating new opportunities.

“The Portuguese EU Presidency and European Investment Bank are pleased to join forces with East African business, political and conservation partners to learn from each other and ensure that lessons learnt in East Africa can make and enhance sustainable development around the world. The impressive examples of successful sustainable investment from across this region will be shared with Africa, European and global green leaders in Lisbon later this month,” said Fragoso.

Participants highlighted how recent and future private sector-led clean energy, sustainable transport and business investment across East Africa can unlock economic opportunities, strengthen resilience to COVID-19, increase protection from a changing climate and ensure more sustainable use of resources in the future.

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The practical discussions included examples of how conservation investment was protecting thousands of jobs in rural communities and how technology is improving opportunities for low-income small-holders across Kenya.

In recent years floods and drought across East Africa have shown the devastating impact of a changing climate on livelihoods, business and infrastructure.

However more trade can mean more emissions, so it is important to invest in reducing the carbon footprint of trade. Private sector capital will have a key role to play in making this a reality.

The virtual dialogue, organised by the European Investment Bank and Portuguese Embassy in Kenya, and moderated by TradeMark East Africa CEO Frank Matsaert, is one of more than 25 events being held across Africa and Europe ahead of the High-Level Green Investment Forum taking place in Lisbon on 23 April.