Abidjan, May 12, 2025
As part of efforts to grow its commitments in the ECOWAS sub-region while continuing to support socio-economic development, the ECOWAS Bank for Investment and Development (EBID) has signed an agreement with the Government of the Republic of Côte d’Ivoire for the opening of its first country office.
The agreement was signed during a ceremony in Abidjan, Côte d’Ivoire, with the Ivorian Government represented by the Minister for Foreign Affairs, African Integration and Ivorians Living Abroad, Honourable Leon Kacou Adom, and the Bank represented by Dr George Agyekum Donkor, President and Chairman of the Board of Directors of EBID. The ceremony was also graced by the presence of Honourable Nialé Kaba, Minister for the Economy, Planning and Development, Governor of EBID, representing Côte d’Ivoire.
In his speech, the President and Chairman of the Board of Directors of EBID thanked the Government of Cote d’Ivoire for being a key partner of the Bank, paying particular tribute to Honourable Nialé Kaba, Governor of EBID on behalf of Côte d’Ivoire, for supporting the implementation of this initiative, which is in line with the Bank’s Strategic objectives. He also congratulated the Government of Cote d’Ivoire on the impressive macroeconomic gains made over the years, resulting in the Country being rated as the best economy in the West African sub-region with a BB, stable outlook (S&P) and a Ba2, stable outlook (Moody’s).
Outlining the aims of the office, Dr Donkor stated that “the country office will play a crucial role in the implementation of the Bank’s Strategic Plan, by making the Bank more accessible to existing clients and potential partners in Cote d’Ivoire and surrounding Member States while facilitating impactful interventions”.
The Minister for Foreign Affairs, African Integration and Ivorians Living Abroad of Cote d’Ivoire welcomed the move by EBID, expressing the hope that having a national presence would enable the Bank to be even more relevant to the needs of economic actors, particularly in the private sector, to enhance its interventions. The Minister concluded his remarks by reiterating Côte d’Ivoire’s support for EBID’s contributions towards improving the livelihoods of the Ivorian people and the wider West African Community.
The Minister for Economy, Planning and Development, who is also the Governor of EBID, representing Côte d’Ivoire, commended the Bank for this bold strategic initiative. She pointed out that the signing of this agreement was a concrete expression of the shared commitment of Côte d’Ivoire and the Bank to address the infrastructure deficit in the ECOWAS region and thereby improve the lives of the people. She emphasized that Côte d’Ivoire would be the first ECOWAS Member State to host a representative office of EBID which catchment area will cover Liberia, Sierra Leone, The Gambia, Guinea Bissau, and Senegal.
The establishment of a representative office of EBID in Abidjan serves as yet another illustration of the strategic importance of Côte d’Ivoire for the sub-region. To date, the Country has benefited from a total of about XOF 567 billion (equivalent to USD 940 million) in commitments from EBID for both the private and public sectors.
