Feature
EBID is an international finance institution established by the new Article 21 of the Revised Treaty as amended by the Additional Act A/SA.9/01/07 of 19 January 2007. It has two windows, one for the promotion of the private sector and the other for the development of the public sector.
Its main objective is to contribute towards the economic development of West Africa through the financing of ECOWAS and NEPAD (New Partnership for Africa 's Development) projects and programmes, notable among which are programmes relating to transport, energy, telecommunications, industry, poverty alleviation, the environment and natural resources.
EBID's vision is to become the leading regional investment and development finance bank in West Africa, a powerful financial institution for private sector promotion and financing in the region and an effective instrument for poverty alleviation, wealth creation and job promotion for the well-being of the people of the region.
MISSIONEBID's mission is to contribute towards the creation of the conditions which would enhance the emergence of an economically strong, industrialised, and prosperous West Africa that is perfectly integrated both internally and in the global economic system in order to benefit from the opportunities offered by globalisation.
The corporate object of the EBID is to:
• grant loans and guarantees for financing investment projects and programmes for the economic and social development of Member States;
• mobilize resources within and outside the Community for the financing of its investment projects and programmes;
• provide the technical assistance necessary within the Community for the study, preparation, financing and execution of development projects and programmes;
• receive and manage the portion of the Community Levy resources me a nt for the financing of Community development activities;
• manage any Community special funds relevant to its corporate object;
• carry out any commercial, industrial or agricultural activity, in as much as such an activity is secondary to its object or necessary for the recovery of its debts.
Within the scope of its corporate object, the Bank cooperates with national and sub-regional development organisations operating within the Community. In the same vein, it cooperates with other international organisations with similar aims and other institutions involved in the development of the Community.
The initial authorised capital of the EBID is six hundred and three million Units of Account (UA 603 000,000)1 or roughly seven hundred and fifty million US dollars US$ 750,000,000). Regional members control 67% of the capital and 33% is offered for subscription by non-regional members.
EBID decision-making bodies:
• The Board of Governors;
• The Board of Directors;
• The President;
The Board of Governors is the highest decision-making body and has oversight functions over the Bank's management and administration.
The Board of Directors is responsible for general operations of the Bank.
The President is responsible for the day to day management of EBID and his powers are defined in the Articles assisted by two Vice-Presidents.