The ECOWAS Bank for Investment and Development (EBID), is the financial institution established by the 15 Member States of the Economic Community of West African States (ECOWAS) comprising Benin, Burkina Faso, Cape Verde, Côte d’Ivoire, The Gambia, Ghana, Guinea, Guinea-Bissau, Liberia, Mali, Niger, Nigeria, Senegal, Sierra Leone and Togo,.
The Bank is an international financial institution with two funding windows to promote private sector activities and fund the development of the public sector. It is based in Lome, the Togolese Republic.
Overall, EBID aims to contribute to the economic development of West Africa through the financing of ECOWAS projects and programs in particular, those related to transport, energy, telecommunications, industry, poverty alleviation, the environment and natural resources. The Bank intervenes in the Public Sector by issuing Direct medium and long-term concessionary or non-concessionary loans; and in the Private Sector by issuing direct short, medium and long term loans, equity participation through equity or quasi-equity (convertible bonds and/or participatory loans), lines of credit and framework agreements for the refinancing of Member States’ national financial institutions, granting and/or guaranteeing of debenture loans, bonds, notes and securities, financial engineering and financial services.
EBID is also involved in the financing of intra-regional trade in order to enhance trade among Community member States. It supports agriculture in order to enable Community member States achieve food self-sufficiency and promotes financing of Clean Development Mechanism (CDM) projects, particularly those relating to energy efficiency, renewable energies and the carbon market through its contribution to establishing of the African Bio-fuels and Renewable Energies Fund with the assistance of the World Bank and other development partners. The name of the Fund at present is African Bio-fuels and Renewable Energies Company (ABREC)
Other objectives of EBID:
• Manage any Community special funds relevant to its corporate object;
• Carry out any commercial, industrial or agricultural activity related to the Bank’s corporate object or required for the recovery of its debts,
• Within the scope of its corporate objectives, cooperate with national and sub-regional development organizations operating within the Community. In the same vein, it cooperates with other international organizations with similar aims and other institutions involved in the development of the Community.