Finance

The ECOWAS Bank for Investment and Development extends EUR 30 million to support the agricultural sector in Côte d'Ivoire

The ECOWAS Bank for Investment and Development extends EUR 30 million to support the agricultural sector in Côte d'Ivoire
Thursday, 07 December 2023 17:05

The ECOWAS Bank for Investment and Development (EBID) extended a line of credit totaling EUR 30 million to MANSA Bank in a ceremony held in Abidjan, Côte d'Ivoire on December 6, 2023. This facility which is exclusively dedicated to SMEs/SMIs operating in the agricultural value chain, will support agribusiness in various ways including transport, storage and processing of agricultural products.

In his remarks, Dr. George Agyekum Donkor, President and Chairman of the Board of Directors of EBID expressed that the facility is in line with the Bank’s strategy of investing in SMEs operating in key sectors in the sub-region, through partnerships with local banks. He also highlighted that 15% of the resources were reserved for use of women-led enterprises which are the backbone of the economy and play a key role in the socio-economic advancement of the ECOWAS Community. 

El-Hassana KABA, Managing Director of MANSA Bank, expressed his gratitude and assured EBID that the funds would be used to strengthen the private sector and drive sustainable growth. He added that the resources would not only make it possible to meet the growing needs of Ivorian economic operators but also strengthen the country’s trade position by supporting the manufacturing of higher income-generating products.

The facility brings the Bank’s total commitments in Côte d'Ivoire to approximately USD 652 million for both private and public sector investments and will benefit 27 SMEs while creating over 738 new jobs. It is yet another evidence of EBID’s commitment to improving outcomes for vulnerable populations and alleviating poverty in the subregion.

image001

On the same topic
Gabon signed a $3 billion deal with Afreximbank to finance priority investments. The move follows a meeting between President Oligui Nguema...
• BCEAO holds key rates, citing stable growth and low inflation• WAEMU GDP grows 6.5%; inflation drops to 0.6% in Q2• Risks persist from insecurity,...
• WEF identifies 37 financial instruments for nature, highlighting 10 as priority solutions delivering both financial returns and ecological outcomes.•...
EBRD, EU, GCF, and Canada plan €65 mln ($77 mln) green loan for Crédit du Maroc. Funds to support clean energy, water treatment, and sustainable...
Most Read
01

From Dakar to Nairobi, Kampala to Abidjan, mobile money has become a lifeline for millions of Africa...

Africa's Boundless Future: How a simple mobile phone became a pocket bank for millions
02

Airtel Gabon, Moov sign deal to share telecom infrastructure Agreement aims to cut costs, boo...

Gabon’s Airtel, Moov to Share Towers Under Govt-Brokered Deal
03

• WAEMU posts 0.9% deflation in July, second month in a row• Food, hospitality prices drop; alcohol,...

WAEMU Region Records Second Straight Month of Deflation, at -0.9% in July 
04

Malawi votes in high-stakes presidential election Tuesday Economic crisis, inflation dominate vot...

Malawi’s Election Puts Incumbent Chakwera to the Test on Inflation and Fuel Shortages
05

Vision Invest invests $700m in Arise IIP, Africa’s largest private infrastructure deal in 202...

Saudi Arabia’s 2025 Shopping List Now Includes Industrial Parks in Africa — With a $700 Million Entry Ticket
Enter your email to receive our newsletter

Ecofin Agency provides daily coverage of nine key African economic sectors: public management, finance, telecoms, agribusiness, mining, energy, transport, communication, and education.
It also designs and manages specialized media, both online and print, for African institutions and publishers.

SALES & ADVERTISING

regie@agenceecofin.com 
Tél: +41 22 301 96 11 
Mob: +41 78 699 13 72


EDITORIAL
redaction@agenceecofin.com

More information
Team
Publisher

ECOFIN AGENCY

Mediamania Sarl
Rue du Léman, 6
1201 Geneva
Switzerland

 

Ecofin Agency is a sector-focused economic news agency, founded in December 2010. Its web platform was launched in June 2011. ©Mediamania.

 
 

Please publish modules in offcanvas position.