By Abdulkareem Haruna


Abidjan, Côte d’Ivoire – The ECOWAS Bank for Investment and Development (EBID), the financial arm of the Economic Community of West African States, is set to deepen its engagement in the region with the establishment of its inaugural country office in Côte d’Ivoire. An agreement formalizing the move was signed in Abidjan on Monday, signaling the bank’s intent to expand its reach and support socio-economic progress across West Africa.


The landmark agreement was inked by Ivorian Foreign Minister Leon Kacou Adom and EBID President Dr. George Agyekum Donkor, in a ceremony attended by Côte d’Ivoire’s Minister for the Economy, Planning and Development, Nialé Kaba, who also serves as the country’s governor on EBID’s board.


Dr. Donkor expressed his gratitude to the Ivorian government, particularly acknowledging Minister Kaba’s pivotal role in facilitating the initiative, which aligns with EBID’s overarching strategic objectives. He lauded Côte d’Ivoire’s robust macroeconomic performance, which has earned the nation high credit ratings within the sub-region.
Outlining the strategic rationale behind the new office, Dr. Donkor stated that it would be “crucial 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.”


Ivorian Foreign Minister Adom welcomed EBID’s decision, expressing optimism that a local presence would enhance the bank’s relevance to economic actors, especially within the private sector, and amplify its developmental impact. He reaffirmed Côte d’Ivoire’s commitment to supporting EBID’s efforts to improve livelihoods across the West African community.


Minister Kaba echoed this sentiment, hailing the initiative as a “bold strategic” step and a tangible demonstration of the shared commitment between Côte d’Ivoire and EBID to tackle the region’s infrastructure deficit and uplift its people. She highlighted the significance of Côte d’Ivoire becoming the first ECOWAS member state to host an EBID representative office, which will also serve Liberia, Sierra Leone, The Gambia, Guinea Bissau, and Senegal.


Côte d’Ivoire has already benefited significantly from its partnership with EBID, receiving approximately XOF 567 billion (USD 940 million) in commitments for both public and private sector projects to date. The establishment of this country office underscores the nation’s strategic importance within the ECOWAS sub-region and marks a new chapter in EBID’s efforts to foster sustainable development across West Africa.