Brussels, 20/05/2009 (Agence Europe) - The European Investment Bank (EIB) has just taken a series of initiatives to help Africa cope with the global economic slowdown. It has reached agreement that the continent's largest financial and development institutions provide at least US$15 billion to promote trade, support the financial sector and increase lending for infrastructure, agribusiness and small and medium enterprises. The EIB and European finance institutions have also agreed to replenish the co-financed European Financing Partners facility with €230 million to finance private sector investment in Africa, the Caribbean and the Pacific (ACP). The EIB also signed agreements with the Republics of Liberia, Togo and the Côte d'Ivoire to reduce their levels of debt to the Bank, within the framework of the International Monetary Fund (IMF) Heavily Indebted Poor Countries initiative. Lastly, the Industrial Development Corporation of South Africa Limited (IDC) has received a €60 million credit line to finance private sector small and medium sized enterprises (SMEs). The funding will support viable projects undertaken by SMEs in industrial, resources and services sectors. (O.L./transl.rt)