Lomé, October 15, 2024
The President and Chairman of the Board of Directors of the ECOWAS Bank for Investment and
Development (EBID), Dr George Agyekum Donkor, signed a loan agreement granting a line of credit in
the amount of EUR 20 million to the Bank of Commerce and Industry of Guinea (BCI Guinée).
This loan facility will be used to finance small and medium-sized enterprises and industries (SMEs and
SMIs) in the Republic of Guinea to contribute to the development of entrepreneurship and the
promotion of SMEs/SMIs, particularly in the agricultural value chain and related sectors of activity, with
at least 15% of the financing being earmarked for businesses run or led by women.
In his speech, Dr Donkor emphasised that SMEs and SMIs are the backbone of the regional economy and
play a key role in meeting market needs while creating jobs, making it crucial to support their activities.
He also highlighted the importance of developing a more robust agricultural sector, to tackle the issue of
food security which continues to plague the sub-region while building a regional value chain to stimulate
economic growth. In response, BCI Guinée, represented by its Director General and Board Director, Mr.
Sidy Mohamed Cherif, pledged to deploy the resources efficiently to ensure wealth creation for the
benefit of the people of Guinea.
With this investment, EBID has invested a total of USD 222.8 Million in both the public and private
sectors of the Republic of Guinea. In the sub-region, the Bank’s commitment stands at about USD 4.2
billion and is poised to grow as EBID continues to finance projects in key sectors to fast-track socio-
economic development, in line with the Bank’s mandate. ********************
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.
