ECOWAS Bank for Investment and Development (EBID) granted a loan in the amount of FCFA4.9 billion FCFA to DEKEL OIL CI SA for the partial financing of the establishment of an agro-industrial oil palm production complex at Ayénouan in the Republic of Côte d’Ivoire.

The loan agreement was signed at the headquarters of the Bank on Friday 05 February 2010 between the President of EBID Mr. Christian Adovelande and the Chairman of the Board of Directors of DEKEL OIL CI SA, M. Youval Rasin.

The DEKEL OIL agro-industrial project will contribute to the development of the cultivation of palm trees through the industrial processing of palm fruits into raw palm oil.

The project will also promote the agricultural sector through the enhancement of palm oil production and improvement in the output of rural producers through adequate supervision. Furthermore, the processing plant will enrich the industrial sector in Côte d’Ivoire.

EBID’s share in the financing of this project represents 25% of the total cost estimated at 19.5 billion FCFA

The DEKEL OIL project is another indication of EBID’s unwavering support to the private sector which the highest authorities in ECOWAS Member States consider transforming into the engine of growth for the sub region.

Lome, 05th February 2010

Press contact: Sibi LAWSON AGBEKPONOU
Coordinator of Communication and Marketing Unit – EBID
Tel: 00228 221 68 64 – Email: sagbekponou@bidc-ebid.org