The ECOWAS Bank for Investment and Development (EBID) grants a € 58 Million syndicated loan to Atlantic Cocoa Corporation Côte d’Ivoire to boost the agro-industrial sector

The ECOWAS Bank for Investment and Development (EBID) and CORIS Bank International Côte d'Ivoire have extended a loan facility in the amount of EUR 58 million to Atlantic Cocoa Corporation in the Republic of Cote d'Ivoire.

This syndicated facility, which was approved during the 89^th Session of the Board of Directors of the Bank on Tuesday, 1^st October 2024, is intended to finance the construction and operation of a cocoa processing plant in San Pedro by Atlantic Cocoa Corporation Côte d'Ivoire. It is part of EBID's efforts to support Cote d'Ivoire with the development of key industries to create jobs and boost economic activity.

In his speech, the President and Chairman of the Board of Directors of EBID, Dr George Agyekum Donkor, underscored the fact that this syndicated loan agreement is aligned with the strategic vision of the Bank, which is to invest in the growth poles of ECOWAS Member States. Thanks to this loan, more than 74 new permanent jobs and 96 daily jobs will be created, contributing more than 158 million euros to national added value, and improving the balance of trade.

To date, the Bank has committed a total of about USD 710 million to projects in both the private and public sectors in the Republic of Cote d'Ivoire and remains committed to its mandate of promoting economic development throughout the ECOWAS region.