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Strategic Financing to Enhance Economic Growth and Job Creation
The ECOWAS Bank for Investment and Development (EBID) has approved a XOF 10 billion (approximately USD 16.3 million) line of credit to the Banque Sahélo-Saharienne pour l’Investissement et le Commerce (BSIC-CI SA). This is to support private sector growth and Small and Medium-sized Enterprises (SMEs) in Côte d’Ivoire.
Formalized this week in Abidjan, this agreement was marked another milestone in EBID’s efforts to promote regional economic development. and financial inclusion. Equally important, it opens fresh window entrepreneurship.
Empowering Key Sectors for Côte d’Ivoire’s Growth
This strategic financing facility is aimed at enhancing the capacity of
- SMEs in critical sectors such as:
- Agriculture and agro-industry
- Industry and manufacturing
- Infrastructure and transport
- Services and commerce
By increasing access to capital, the initiative is expected to stimulate job creation, and enhance productivity. It will also foster inclusive economic development in Côte d’Ivoire and the broader ECOWAS region.
EBID President: A Commitment to Sustainable Development
Dr. George Agyekum Donkor, President/Chairman of the Board of Directors of EBID, emphasized the Bank’s dedication to sustainable economic growth and social progress:
“This XOF 10 billion line of credit underscores EBID’s commitment to fulfilling its mandate of promoting economic growth and social progress. Our partnership with BSIC-CI SA aligns seamlessly with our strategic vision and will have a transformative impact on Ivorian communities.”
He further highlighted EBID’s focus on gender inclusion. A portion of the funds will be allocated specifically to businesses owned or managed by women:
“By empowering women entrepreneurs, we are not only advancing gender equality but also unlocking the full potential of the private sector to drive sustainable development.”
BSIC-CI SA Pledges Effective Utilization of Funds
Mr. Adeboke Mensan Affambi, Managing Director of BSIC-CI SA, expressed gratitude to EBID. He reaffirmed the Bank’s commitment to utilizing the funds effectively:
“This partnership with EBID represents a significant milestone in our mission to support SMEs and contribute to the economic transformation of Côte d’Ivoire. We are committed to deploying the facility efficiently to create tangible, positive impacts on the lives of individuals and communities.”
Additionally, Mrs. Lydie Ahoussi Guibéi, Chairperson of the Board of Directors of BSIC-CI SA, reiterated the Bank’s pledge to ensure the funds are used for their intended purpose, maximizing their impact on economic growth and financial inclusion.
EBID’s Strong Presence in Côte d’Ivoire’s Development
This latest credit facility strengthens EBID’s role as a key driver of economic progress in Côte d’Ivoire. To date, the Bank has committed approximately USD 803 million to various development initiatives in the country. It has reinforced its mission to provide innovative financial solutions that address the region’s most pressing challenges.
As EBID continues to expand its development financing portfolio, this partnership with BSIC-CI SA is set to empower SMEs, drive economic transformation, and create opportunities for businesses and individuals across Côte d’Ivoire.
