EBID invests US$397m in Côte d’Ivoire economy

EBID invests US$397m in Côte d'Ivoire economy
Ivorian Prime Minister His Excellency, Patrick Jérôme Achi and President and Chairman of the Board of Directors of EBID, Dr George Agyekum Donkor (right)

The ECOWAS Bank for Investment and Development (EBID) has so far invested an amount of USD 397 million in critical sectors of the Côte d’Ivoire economy.

This figure is expected to increase significantly following the implementation of additional pipeline projects which have gone through the Bank’s approval matrix.

This was disclosed by the President and Chairman of the Board of Directors of EBID, Dr George Agyekum Donkor, during his 4-day visit to Côte d’Ivoire from February 15 to 19, 2022.

The visit, which was essentially to engage the Ivorian Government for support in charting a development roadmap for the sub-region as a key shareholder, also included discussions on avenues for the Bank to scale up developmental efforts in the country.

During the visit, the President of EBID held high-level discussions with the Ivorian Prime Minister, His Excellency, Patrick Jérôme Achi.

Prior to the meeting with the Prime Minister, Dr Donkor had held consultative sessions with the Minister of Planning and Budget, Madam Niale Kaba and later paid a courtesy call on the Secretary General of the Presidency of the Republic of Côte d’Ivoire, Mr. Abdourahmanne Cissé.

The discussions centred on the deepening institutional reforms, governance, and the positioning of the Bank to transform ECOWAS communities through focused funding of impactful projects.

The government representatives welcomed the visit of the President of EBID as a key step in the financing of priority projects as enumerated in the National Development Plan of Côte d’Ivoire, which focuses on industrial development, digitisation, and human capital development.

ECOWAS Bank for Investment and Development (EBID) is a leading regional investment and development bank, owned by the fifteen (15) ECOWAS Member States, namely, Benin, Burkina Faso, Cape Verde, Côte d’Ivoire, The Gambia, Ghana, Guinea, Guinea-Bissau.

The rest are Liberia, Mali, Niger, Nigeria, Senegal, Sierra Leone and Togo. Based in Lomé, Togolese Republic, the Bank is committed to financing developmental projects and programs covering diverse initiatives from infrastructure and basic amenities, rural development and environment, industry, and social services sectors, through its private and public sector windows.

EBID intervenes through long, medium, and short-term loans, equity participation, lines of credit, refinancing, financial engineering operations and related services.


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