This article was created with ECOWAS Bank's investment and development support
ECOWAS Bank's Investment Development Bank (EBID) has taken an important step towards deepening its regional presence and strengthening its impact across West Africa. The agency recently signed an agreement with the government of Cote Dyvoir to open its first country office, marking a strategic milestone on its expansion agenda.
The landmark contract was sealed in Abidjan at a high-level ceremony attended by senior officials from both parties. To represent the government of Ivory Coast was honored by Foreign Minister, Minister of African Integration and Leon Kaku Adomu, an Iborian living abroad, but eBid was represented by Dr. George Agiekum Dongko, chairman and chairman of the board. The Economic Planning and Development Governor of Côte de Ivoire, the Governor of eBid, and the honorable Niare Hibas also decorated the event, highlighting the national importance of the partnership.
Strategic steps towards regional integration
The opening of the Abidjan office demonstrates Ebid's commitment to increasing operational presence within the ECOWAS subregion. It is also consistent with the bank's broader strategic plan aimed at promoting socioeconomic development through infrastructure and private sector investment. According to Dr. Donkor, the new office will bring the bank closer to both existing and future clients, improving access to services, and enabling them to meet more efficiently local and local needs.
“This country office will play a key role in implementing our strategic plan,” said Dr. Dongcole. “It will be more accessible to existing clients and potential partners from Ivory Coast and its surrounding member states, promoting influential interventions,” he emphasized the importance of physical proximity to identify opportunities and challenges on the ground and respond with greater agility.
Dr. Dongkol also used the opportunity to describe the country as a “important partner” of the bank and expressed his gratitude to the Koiboria government. He gave special respect to Minister Niarekaba for her consistent support in realizing the initiative and helping the bank advance the strategic goals.
Coast of Ivory Coast has been recognized
Coast Ivory Coast has long been recognized as one of the region's most dynamic economies. Over the past decade, the country has achieved strong macroeconomic growth, supported by structural reforms, public investment and private sector development. Dr. Doncor acknowledges these achievements, and emphasizes that Côte de Iboir is currently considered the most performant economy in West Africa's sub-regions, with a stable outlook for the S&P Global Evaluation and that BA2 holds the BB rating with Moody's stable outlook.
This economic resilience has become a natural choice for Ebid's first country office. Its central location, relative political stability and its growing role as a financial and logistics hub in French-speaking West Africa further enhances its importance in the bank's regional vision.
Boost local and local engagement
By establishing a formal presence in Ivory Coast, Ebid aims to play a more practical role in shaping and financing development projects. The office serves as a gateway to improve engagement with national stakeholders, particularly in the private sector. This is increasingly seen as an engine of sustainable economic growth.
Foreign Minister Leon Kakou Adom welcomed the EBID decision to establish a domestic operation, noting that the presence of banks could make them more sensitive to the needs of local economic stakeholders. He expressed confidence that the office will further catalyze the development of all important sectors, including infrastructure, energy and agriculture.
“The establishment of this country office reflects Ebid's desire to bring closer to those who are trying to serve their services,” he said. “It increases the relevance and effectiveness of banks, particularly in addressing the specific needs of private sector operators, which are essential to economic change.”
Regional reach across borders
Abidjan's new office will not only serve Ivory Coast, but will also serve as a regional hub with catchments that include Liberia, Sierra Leone, Gambia, Guinea-Bissau and Senegal. This broad mission positions the office as an important tool for EBID's efforts to harmonize development financing approaches across multiple member states.
Minister Niare Kaba praised the bank for what she described as a “bold and strategic” initiative. She highlights the fact that Ivory Coast will become the first ECOWAS member state to host a representative office for EBID, showing a strong level of mutual trust and cooperation between the two institutions.
She also emphasized that the partnership is a concrete expression of a common commitment to overcoming the infrastructure deficits across the region. “This agreement is not symbolic, it is a testament to the joint resolve to improve the quality of life of West African citizens,” she said. “The new office will help drive initiatives that support industrialization, connectivity and economic inclusion.”
Engagement track record
Coast Ivory has already been a major beneficiary of EBID development finance. To date, the country has received approximately 567 billion (approximately USD 940 million) commitments from banks. These funds support a wide range of public and private sector projects, ranging from road and energy infrastructure to industrial development and small business financing.
The establishment of a permanent office is expected to increase the efficiency of project identification, preparation and implementation. It also provides technical support on the ground, provides a platform to monitor project progress more effectively and deepen relationships with implementation agencies and financial partners.
Deep integration and impact prospects
The opening of Abidjan's office is seen as a potential turning point in the evolution of eBid from community development finance companies to more embedded, active institutional actors. By taking this step, banks are keen to adapt to West Africa's increasingly complex development environment where agility, local knowledge and partnership building is essential for success.
For Ivory Coast, hosting an EBID office is also an opportunity to further establish a role as a regional leader in development finance. The move is expected to boost its position within ECOWAS while unlocking new paths for investment and collaboration.
Ebid's first country office in Ivory Coast reflects a common vision for a more connected, prosperous and independent West Africa. It highlights the bank's commitment to bring services closer to people, expanding its scope and maximizing its impact on development across the subregion.
When Abidjan's office opens its doors, it does more than simply house an evidic staff. It serves as a beacon and catalyst for transformative development projects for Cote devoir and subsequent economic cooperation. The move sets the stage for deeper regional integration and provides a model that can be replicated in other member states.
