Abidjan, May 29, 2025
The ECOWAS Bank for Investment and Development (EBID), the African Trade & Investment Development Insurance (ATIDI) have signed a Memorandum of Understanding (MoU) aimed at strengthening support for the private sector in the West African sub-region.
The memorandum, which was signed on May 29, 2025, on the sidelines of the 2025 African Development Bank Group Annual Meetings, in Abidjan, Côte d’Ivoire, establishes a general framework for cooperation between EBID and ATIDI aimed at de-risking private sector transactions in the sub-region to attract investors and bring in more competitive resources. Under this agreement, the two institutions will be collaborating to provide solutions targeting economic activities in key sectors of the economy while contributing to the expansion of industry, infrastructure development and the establishment of a regional value chain.
In his remarks, while noting the commendable international credit ratings of Member States such as Benin, Côte d’Ivoire and Cabo Verde, the President of EBID emphasized the importance of continuing to implement strategies that foster a conducive business climate to accelerate private sector finance inflows for infrastructure development. In this regard, he stated that “Credit Insurance is a strategic tool to mitigate the impact of the macroeconomic and political challenges faced by the sub-region to attract funding on better terms to support the developmental agenda of the ECOWAS States. With a population set to exceed 500 million by 2040, and urbanisation driving new infrastructure, energy, and digital demands, the pressure to finance sustainable development has never been so crucial for our sub-region”.
Mr Manuel Moses, Chief Executive Officer of ATIDI expressed that, “This MoU marks a significant milestone in several ways. First, it represents a concrete step towards enhancing access to finance for the private sector, particularly for SMEs which is the backbone of Africa’s economy. It reinforces our shared commitment to advancing regional integration, a critical pillar in Africa’s journey towards economic transformation. Most importantly, this MoU reflects the need for and power of strategic collaboration among key players in development finance. Only by pooling their assets can institutions such as EBID and ATIDI reach the scale where they can achieve their planned development impact and enable transformational investment for the benefit of ECOWAS citizens. ATIDI will spare no efforts to make this partnership a dynamic, prolific, and successful one”.
Background information:
About ATIDI
ATIDI was founded in 2001 by African States to cover trade and investment risks of companies doing business in Africa. ATIDI predominantly provides Political Risk, Credit Insurance and, Surety Insurance. Since inception, ATIDI has supported USD88 billion worth of investments and cross border trade into Africa. For over a decade, ATIDI has maintained an ‘A/Stable’ rating for Financial Strength and Counterparty Credit by Standard & Poor’s, and in 2019, ATIDI obtained an A3/Stable rating from Moody’s, which has now been upgraded to A2/Positive.
About EBID
ECOWAS Bank for Investment and Development (EBID) is the development finance institution of the Economic Community of West African States (ECOWAS) comprising fifteen (15) Member States namely, Benin, Burkina Faso, Cape Verde, Côte d’Ivoire, The Gambia, Ghana, Guinea, Guinea-Bissau, Liberia, Mali, Niger, Nigeria, Senegal, Sierra Leone and Togo. Based in Lomé, Togolese Republic, the Bank is committed to financing developmental projects and programmes 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.
