By 
The ECOWAS Bank for Investment and Development (EBID) has taken a significant step to bolster economic growth in Guinea by providing a €20 million credit line to the Bank of Commerce and Industry of Guinea (BCI Guinée). The agreement was signed by Dr. George Agyekum Donkor, President and Chairman of the Board of Directors of EBID, marking a substantial investment aimed at empowering small and medium-sized enterprises (SMEs) and industries (SMIs) in the country.
Supporting SME Growth and Women Entrepreneurs
The newly secured loan facility will be channeled toward financing SMEs and SMIs in the Republic of Guinea, with a special focus on promoting entrepreneurship and boosting key sectors such as the agricultural value chain. At least 15% of the funding will be dedicated to businesses owned or led by women, reflecting EBID’s commitment to gender-inclusive economic development. This initiative is expected to drive job creation and stimulate economic growth by empowering small businesses to meet market demands more effectively.
Fostering Agricultural Development and Food Security
In his remarks, Dr. Donkor underscored the crucial role of SMEs and SMIs as the backbone of the regional economy. “Supporting small and medium-sized enterprises is essential for economic stability and growth, as these businesses play a key role in meeting market needs while creating jobs,” he said. He further highlighted the strategic importance of strengthening the agricultural sector to address the persistent issue of food security in the sub-region and build a regional value chain that can drive sustainable economic development.
Commitment to Efficient Resource Deployment
BCI Guinée, represented by its Director General and Board Director, Mr. Sidy Mohamed Cherif, expressed appreciation for the loan and pledged to deploy the funds effectively to foster wealth creation for the people of Guinea. The credit line will be used strategically to develop businesses across various sectors, with a particular emphasis on agriculture and other related industries.
EBID’s Broader Investment in Guinea and West Africa
With this €20 million investment, EBID’s total commitment to both the public and private sectors in Guinea has reached approximately $222.8 million. Across the West African sub-region, the Bank has invested around $4.2 billion in various projects, reinforcing its role as a key financial partner for economic development. EBID remains dedicated to financing initiatives that accelerate socio-economic progress in alignment with its mandate to support the region’s development goals.
Driving Regional Economic Growth
The credit line to BCI Guinée is part of EBID’s broader strategy to promote sustainable economic growth throughout the ECOWAS region. By investing in SMEs and agricultural development, the Bank aims to create a more resilient economic environment, address food security challenges, and empower entrepreneurs, especially women, to drive innovation and job creation.
The funding is expected to play a pivotal role in transforming Guinea’s economic landscape, enhancing the competitiveness of local businesses, and contributing to the overall development of the West African economy.
