EBID supports SMEs in Côte d'Ivoire with $16.3m credit facility
The ECOWAS Bank for Investment and Development (EBID) has approved a $16.3 million credit facility to support small and medium enterprises (SMEs) in Côte d'Ivoire.
The financing was extended to Banque Sahélo-Saharienne pour l’Investissement et le Commerce (BSIC-CI SA) as part of a strategic partnership between the two institutions.
Designed to empower SMEs operating in key sectors critical to Côte d'Ivoire’s economic development—including agriculture, agro-industry, industry, infrastructure, transport, and services—the initiative aims to provide much-needed capital to stimulate job creation, enhance productivity, and foster inclusive economic growth across the region.
Speaking at the signing ceremony, the President and Chairman of the Board of Directors of EBID, Dr George Agyekum Donkor, reaffirmed the bank’s unwavering commitment to promoting investment and sustainable development in the ECOWAS region.
“This line of credit underscores EBID’s dedication to fulfilling its mandate of promoting economic growth and social progress. Our partnership with BSIC-CI SA aligns seamlessly with our strategic vision and will have a transformative impact on Ivorian communities,” he said.
He further highlighted the bank’s focus on gender inclusion, noting that a portion of the funds would be specifically allocated to businesses owned or managed by women.
“By empowering women entrepreneurs, we are not only advancing gender equality but also unlocking the full potential of the private sector to drive sustainable development,” he added.
The Managing Director of BSIC-CI SA, Adeboke Mensan Affambi, expressed gratitude to EBID for the support and reaffirmed his bank’s commitment to ensuring the effective utilisation of the funds.
“This partnership with EBID represents a significant milestone in our mission to support SMEs and contribute to the economic transformation of Côte d'Ivoire. We are committed to deploying the facility efficiently to create tangible, positive impacts on the lives of individuals and communities,” he said.
To date, EBID’s total commitments in Côte d'Ivoire amount to approximately $803 million, reflecting its ongoing efforts to provide innovative financial solutions that address the region’s most pressing development challenges.
About EBID
The ECOWAS Bank for Investment and Development (EBID) is the development finance institution of the Economic Community of West African States (ECOWAS), comprising 15 member states: 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, Togo, the bank is committed to financing developmental projects and programmes across various sectors, including infrastructure, basic amenities, rural development, the environment, industry, and social services, through both its private and public sector financing windows.
EBID provides financial support through long, medium, and short-term loans, equity participation, lines of credit, refinancing, financial engineering operations, and related services.