EBID and Saudi Exim Bank sign $25 Million Loan facility
On the sidelines of the recently concluded Saudi-Arab-African economic conference in Riyadh, Saudi Arabia, Saudi Exim Bank and the ECOWAS Bank for Investment and Development (EBID) signed a loan agreement for $25 million on November 9th, 2023.
EBID was represented by the Vice-President in charge of Finance and Corporate Services, Dr Mabouba Diagne.
The facility forms part of the Bank’s resource mobilisation strategy aimed at securing financing for projects in key sectors such as energy, mining, agriculture, and technology for a positive developmental impact in West Africa.
The partnership between EBID and Saudi Exim Bank underscores the need for South-South cooperation, which promotes trade and integration to develop regional value chains while boosting the economies of ECOWAS Member States.