Country: ECOWAS Countries
Type of investment: Financial Institution
Purpose: Increase lending to the agriculture value chain
Financial close: 17th May 2022
Tenor: 7 years
Type of Investment: Senior Unsecured Loan
S&E Category: F
Founded in 1975 as the Fund for Cooperation, Compensation and Development of the Economic Community of West African States (ECOWAS Fund), the fund was converted into today’s ECOWAS Bank for Investment and Development (EBID) in 1999. From inception to date, EBID has a consistent track record of funding projects, mainly in the public agricultural sector, with a focus on rural.
n 2022, EBID made the first withdrawal of a EUR 25m senior unsecured debt facility from AATIF, broadening AATIF’s reach and capacity for impact in West Africa’s private sector. The funding will be used to increase lending support for smallholder farmers in the region, further promoting the local agriculture value chain in ECOWAS member states.
The bank is 100% publicly owned by the ECOWAS member states, with the 15 ECOWAS ministers of finance represented on the board of governors, demonstrating the importance EBID has for the community as the region’s financial arm.
With Lomé (Togo) as their basis of operations, EBID operates in all ECOWAS states as a regional DFI, coordinating its efforts across both public and private sectors. By providing very patient capital into projects that are deemed to be part of national priorities, EBID will utilise the AATIF facility to promote the agricultural sector by funding companies and projects that would not have been financed on a standalone basis.
Agricultural portfolio as a percentage of total bank portfolio
Agricultural Sub-loans: n/a
Number of employees
All employees have open-ended or fixed term (2 years) contracts.