The ECOWAS Bank for Investment and Development (EBID), is the financial institution established by the 15 Member States of the Economic Community of West African States (ECOWAS) comprising Benin, Burkina Faso, Capo Verde, Côte d’Ivoire, The Gambia, Ghana, Guinea, Guinea-Bissau, Liberia, Mali, Niger, Nigeria, Senegal, Sierra Leone and Togo. The Bank’s headquarters is in Lome, Togolese Republic.
The Bank has two funding windows namely, the promotion of the private sector and development of the public sector.
Overall, EBID aims at contributing to the economic development of West Africa through the financing of projects and programmes in particular, those related to transport, energy, telecommunications, industry, poverty alleviation, the environment and natural resources.
The vision of EBID is to become the leading regional investment and development Bank in West Africa, an effective tool for poverty alleviation, wealth creation and job promotion for the well-being of people in the region.
The mission of the Bank is to foster the emergence of an economically strong, industrialised and prosperous West Africa with a fully integrated economic system at regional and global levels in order to benefit from the opportunities offered by globalisation.
The Bank’s corporate object is to:
- grant loans and guarantees for financing investment projects and programmes relating to the economic and social development of Member States;
- mobilize resources within and outside the Community to finance the Bank’s investment projects and programmes;
- provide the technical assistance that may be required within the Community to study, prepare, finance and implement development projects and programmes;
- receive and manage the portion of the Community Levy resources earmarked for financing Community development activities;
- manage any Community special funds relevant to its corporate object;
- carry out any commercial, industrial or agricultural activity related to the Bank’s corporate object or required for the recovery of debts owed the Bank.
Within the scope of its corporate object, the EBID cooperates with national and sub-regional development organisations operating within and outside the Community. Furthermore, the Bank cooperates with other international organisations with similar aims and other institutions involved in the development of the Community.