EBID Pioneers Green, Social and Sustainable Bond Listing on Brvm Regional Stock Exchange

The Bourse Régionale des Valeurs Mobilières (BRVM), the stock exchange serving the eight States of the West African Economic and Monetary Union (WAEMU), has admitted the "GSS Bond BIDC-EBID 6.50% 2024-2031" issued by the ECOWAS Bank for Investment and Development (EBID) to its listings. The admission was commemorated by a symbolic bell-ringing ceremony held at the Bank's headquarters in Lome, Togolese Republic, on October 31, 2024.

With the issuance of this bond, launched in July 2024, EBID becomes the first Development Finance Institution to issue a Green, Social and Sustainable development (GSS) Bond on the regional financial market making this a landmark transaction. The highly successful GSS Bond issuance raised 70 billion XOF in less than five (5) days, with a maturity of seven (7) years at a net annual coupon of 6.50% amortized semi-annually after a two (2) year capital deferral. The 70 billion XOF was the last tranche of the total amount of XOF 240 Billion approved by the Board of Directors of EBID as per the Bank's 2021-25 Strategic Plan.

In his remarks, Dr Mory Soumahoro, Vice-President in charge of Risk and Control of EBID, speaking on behalf of the President of the Bank, reaffirmed EBID's commitment to providing resources to support the development of ECOWAS Member States. He added, that in light of the current harsh economic climate 'EBID must play a major counter-cyclical role in the revival of our economies through a more innovative approach that takes into account the new challenges facing our planet, such as sustainable development and climate change'.

Dr Edoh Kossi Amenounvé, Managing Director of BRVM, also addressed the gathering, emphasizing the significance of this historic achievement for the entire sub-region noting that "The future will be green or there will be no future".

For his part, Mr. Ababacar DIAW, Managing Director of SGI IMPAXIS, Arranger and Lead Manager of the operation on behalf of the Consortium comprising IMPAXIS, Coris Bourse and EDC Investment Corporation, expressed appreciation to the Bank for entrusting the Consortium with managing its 240 Billion XOF fundraising programme, including the GSS Bond listing. He also thanked all investors for their massive support which has culminated in a successful operation signaling confidence in the outlook of EBID.

EBID intends to use the resources raised to finance impactful projects in key sectors such as energy, water and sanitation, agriculture, and health, in line with the Bank's sustainable development financing framework adopted in February 2023, while complying with the applicable AMF-UMOA rules for green and sustainable bonds.