The ECOWAS Bank for Investment and Development (EBID) has officially opened its first country office in Abidjan, Côte d’Ivoire, marking a historic expansion of the Bank’s physical presence and operational footprint in West Africa.
The strategic move signals EBID’s commitment to bringing its services closer to the communities and economies it serves, while reinforcing Côte d’Ivoire’s rising status as a regional powerhouse for investment and development finance.
The agreement to establish the Abidjan office was signed during a high-level ceremony attended by key representatives of both the Ivorian Government and EBID.
Representing Côte d’Ivoire was Honourable Leon Kacou Adom, Minister for Foreign Affairs, African Integration and Ivorians Living Abroad.
The Bank was represented by Dr George Agyekum Donkor, President and Chairman of the Board of Directors, with Honourable Nialé Kaba, Minister for Economy, Planning and Development and Governor of EBID for Côte d’Ivoire, also present to affirm the country’s support and partnership.
“This country office will play a crucial role in the implementation of our strategic plan,” said Dr Donkor.
“It will make EBID more accessible to existing clients and potential partners in Côte d’Ivoire and the surrounding Member States, while facilitating impactful interventions.”
He emphasized that physical proximity to local markets would enable the Bank to respond with greater agility and effectiveness.
Dr Donkor also expressed his appreciation to the Ivorian Government for its ongoing support, noting the country’s strong economic performance and regional leadership.
“We regard Côte d’Ivoire as a key partner,” he said, paying special tribute to Minister Nialé Kaba for her critical role in driving the initiative forward.
Côte d’Ivoire’s selection as the host of EBID’s first representative office is a reflection of its sustained economic progress.
Over the last decade, the country has emerged as the best-performing economy in the West African sub-region, achieving consistent growth through structural reforms, robust public investment, and private sector development.
The country currently holds a BB rating with a stable outlook from S&P Global Ratings and a Ba2 rating with a stable outlook from Moody’s.
Its central location, political stability, and growing influence as a financial and logistics hub in Francophone West Africa make it an ideal choice for the Bank’s physical expansion.
Minister Leon Kacou Adom welcomed the development, saying EBID’s presence would make the institution more responsive to the needs of Ivorian stakeholders, especially within the private sector.
“The establishment of this country office reflects EBID’s desire to bring its services closer to the people it seeks to serve,” he said.
“It will enhance the Bank’s relevance and effectiveness, especially in addressing the specific needs of private sector operators who are vital to economic transformation.”
The Abidjan office will also serve as a regional hub, covering additional ECOWAS Member States including Liberia, Sierra Leone, The Gambia, Guinea Bissau, and Senegal.
This wider mandate reflects EBID’s objective to harmonise its development interventions and expand its impact across borders.
Minister Nialé Kaba described the move as “bold and strategic,” noting that Côte d’Ivoire is the first ECOWAS Member State to host a country office of EBID.
She underscored the importance of the partnership in addressing regional infrastructure gaps and advancing inclusive development.
“This agreement is more than symbolic—it is a testament to our joint resolve to improve the quality of life for West African citizens,” she said.
“The new office will help drive initiatives that support industrialisation, connectivity, and economic inclusion.”
Côte d’Ivoire has already benefited significantly from EBID’s support, with total financial commitments amounting to approximately XOF 567 billion (about USD 940 million).
These funds have been directed toward major development projects in both the public and private sectors, including energy infrastructure, roads, and industrial development.
With a permanent office now in place, EBID expects to strengthen its ability to identify, design, and implement high-impact projects.
The office will also facilitate closer monitoring, technical support, and collaboration with local stakeholders and financial partners.
As the Abidjan office opens its doors, the move is being seen as a transformational moment in EBID’s evolution, from a regional financier to a more grounded and responsive institution capable of adapting to the complex development needs of West Africa.
For Côte d’Ivoire, the office represents both recognition of its leadership role and a platform for deeper regional engagement.
The establishment of EBID’s first country office in Abidjan is not just a geographic expansion, it is a powerful statement of intent.
It signals a future where development finance is localised, partnerships are strengthened, and West Africa is better equipped to address its economic challenges with unity, precision, and purpose.
