The year 2023 was marked by persistent economic uncertainty, initially induced by the COVID-19 pandemic, and exacerbated by the Russia-Ukraine war. This has had an impact on the global economy.

Despite the many challenges, the ECOWAS Bank for Investment and Development (EBID) has performed remarkably. The Bank’s loan portfolio increased by 18.3%, with cumulative net commitments reaching USD 1.13 billion for 185 projects at the end of 2023, compared to the previous year. In addition, the Bank’s interest income increased by 39 per cent, while total assets increased by 17 per cent. EBID ended the year with a 12% increase in profit.

As a result, EBID recorded significant growth in its balance sheet, reaching US$1,797.40 million, representing 121.40% of the projected target for the end of 2025, indicating that the Bank has already exceeded its 2025 forecast well ahead of schedule. This growth underscores the Bank’s strong financial performance and the effective implementation of strategic objectives.

In this newsletter, you will find out how the Bank has worked to achieve one of its milestones, which was the establishment of a major event highlighting investment opportunities within the ECOWAS zone. This has been done brilliantly !

Join us on our journey of transforming ECOWAS Communities and learn about the far-reaching impact of our projects in the sub-region.

Anita SOMDA DALA
Head of Communication and External Relations Unit
asomda@bidc-ebid.org