The ECOWAS Bank for Investment and Development (EBID) has signed an agreement with the Government of the Republic of Côte d’Ivoire to establish its first country office, marking a significant milestone in its commitment to deepening socio-economic development in the West African sub-region.
The agreement was formalised during a ceremony in Abidjan, with Côte d’Ivoire’s Minister for Foreign Affairs, African Integration and Ivorians Living Abroad, Mr Leon Kacou Adom, and EBID President and Chairman of the Board, Dr George Agyekum Donkor, signing on behalf of their respective institutions. The event was also attended by the Minister for Economy, Planning and Development and EBID Governor for Côte d’Ivoire, Honourable Nialé Kaba.
Dr Donkor expressed gratitude to the Ivorian Government for its steadfast partnership and support in realising this initiative, which aligns with the bank’s strategic objectives. He praised Côte d’Ivoire’s macroeconomic progress, highlighting the country’s strong credit ratings, BB with a stable outlook from S&P and Ba2 with a stable outlook from Moody’s.
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According to Donkor, the new country office will play a pivotal role in implementing EBID’s Strategic Plan by improving accessibility for existing and potential clients, and enhancing impactful interventions across Côte d’Ivoire and neighbouring ECOWAS member states including Liberia, Sierra Leone, The Gambia, Guinea Bissau, and Senegal.
Minister Kaba welcomed the move, describing it as a major step towards strengthening EBID’s relevance in addressing the development needs of the private sector. She affirmed Côte d’Ivoire’s continued support for the bank’s initiatives aimed at improving living standards across the region.
She also lauded the opening of the country office as a tangible demonstration of the shared commitment between Côte d’Ivoire and EBID to bridge the region’s infrastructure gap. The country, she noted, is the first ECOWAS member state to host such an office, underscoring its strategic role within the sub-region.
To date, Côte d’Ivoire has received approximately XOF 567 billion (around $940 million) in financing from EBID for both public and private sector development.
