European Investment Bank (EIB) opened its representative office on Thursday, July 16, 2015, in Ethiopia, the Reuters reported.

The bank operates by lending money to water, energy and other state-run projects as well as to the private sector in Ethiopia.

Pim van Ballekom, Vice President for Sub-Saharan Africa at the EU member state-owned EIB, said in a statement the office would also take care of relations with the AU commission and other international organizations based in Addis Ababa.

Standard Bank of South Africa, Germany's Commerzbank, pan-African lender Ecobank, Export-Import Bank of India, National Bank of Egypt and Bank of Africa, are banks that have representative offices in Addis Ababa, Ethiopia.

Source: Reuters