December 19, 2024
The ECOWAS Bank for Investment and Development (EBID) has approved total financing of 10 billion FCFA and 40 million euros to support the development of SMEs and SMIs in Côte d'Ivoire.
This commitment was made during the 90th ordinary meeting of its Board of Directors, held on Thursday December 19, 2024, by videoconference. The meeting was chaired by Dr. George Agyekum Donkor, President of the EBID and its Board of Directors.
This funding concerns two projects:
- A credit line of 10 billion FCFA to the Banque Sahélo-Saharan pour l'Investissement et le Commerce Côte d'Ivoire (BSIC-CI SA) to support SMEs and SMIs operating in various sectors, notably health, education , agro-industry, commerce, construction and public works.
- A €40 million credit line to Société Multinationale de Bitume (SMB) in Côte d'Ivoire to support imports of oil and commodities, thereby facilitating major infrastructure projects in the country and the -region.
These approvals are part of the EBID's financial sector development strategy, which aims to improve access to financing for SMEs and SMIs, which play an essential role in the economic growth and development of the ECOWAS region, contributing thus to job creation and social integration.
With these new commitments, the total amount of EBID investments in the sub-region amounts to 4.4 billion USD, of which a significant part is devoted to Côte d'Ivoire.
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