EBID extends €20 million to support the private sector in Côte d’Ivoire

The ECOWAS Bank for Investment and Development (EBID) has signed a €20 million Wakala Framework Agreement (loan agreement) with MANSA BANK to support private enterprises in key sectors, including agriculture, agro-industry, services, renewable energy, education and health in Côte d'Ivoire.

This financing extended to MANSA BANK aims to stimulate sustainable growth, promoting private sector development, and creating jobs in the ECOWAS region. The agreement follows the first facility of €30 million granted in December 2023, bringing EBID's total commitments in Côte d'Ivoire to approximately USD 710 million, demonstrating the Bank's continued efforts to providing financial solutions that drive economic progress.

According to the President and Chairman of the Board of Directors of EBID, Dr George Agyekum Donkor, the €20 million line of credit is a confirmation of the Bank's commitment to fulfilling its mandate of fostering growth, innovation, sustainability, job creation and driving prosperity across the ECOWAS region with the ultimate goal of contributing to the overall well-being of the people of the region. "We are confident that this partnership with MANSA BANK will have a positive impact on the lives of people in Côte d'Ivoire, Dr Donkor emphasize."

The facility is expected to create 230 new permanent jobs and consolidate 10,225 existing ones, thereby contributing to the economic growth and development of Côte d'Ivoire.

On his part, the Managing Director of MANSA BANK, Mr. El-Hassana Kaba, expressed appreciation to EBID for the strong collaboration and partnership. He was of the firm conviction that the new facility would enable MANSA BANK to strengthen its financing scope and create jobs which would have positive impact in the loves of the populations.