Public Sector

The sector’s modes of intervention are : direct funding, indirect funding and technical assistance.

Direct funding refers to operations in which the Bank provides resources for the financing of projects/programmes. It includes, among others : partial financing and co-financing with other partners, credit lines and refinancing and etc..

Indirect funding refers to operations in which the Bank provides resources to parapublic enterprises through the Member States, which in turn on-lend their loans to them

Technical assistance is the provision of services to a public entity in the form of : (i) consultancy services; (ii) the temporary assignment of staff to the applicant for assistance; and (iii) the use of consultancy firms or experts to carry out studies, prepare manuals, provide training, etc. In general, the terms and conditions of such technical assistance are defined by written agreement between the parties.

Private Sector

EBID intervenes in various forms in the private sector:

  1. Long and medium-term loans to finance operations for the production or distribution of goods and services or the transfer of ownership of the means of production or distribution to ECOWAS nationals;
  2. Financing of short-term operations (trade finance, intra-regional trade, etc.) ;
  3. Guarantee transactions to secure loans issued by other financial institutions or securities issued by private sector entities, public market entities or national or regional investment funds;
  4. Equity (equity or quasi-equity) participations in companies, Financial Institutions and National or Regional private equity structures;
  5. Refinancing lines to National Financial Institutions (NFIs) in order to contribute to the financing of micro-projects and the development of SMEs;
  6. Assistance in the preparation, promotion and implementation of projects;
  7. Financing of feasibility studies ;
  8. Arrangement of project financing ;
  9. Syndication of financing ;
  10. Advisory ;
  11. Other provision of financial services

Criteria and informations required

Public sector
Request and documentation

In order to enable the Bank to gauge the eligibility of a project under the public window and the soundness of its appraisal, the Bank must be approached with a request for financing from the Minister in charge of Finance and Planning or any authorised government authority, comprising :

  1. a detailed study (Preliminary – detailed project) : (i) the baseline situation with a description of the existing situation ; (ii) a detailed description of the project (technical, socio-economic and financial, environmental and risk aspects, implementation schedule); (iii) sectoral strategy; (iv) institutional aspects, (v) operating budget, (vi) investment sustainability
  2. For state agencies: activity reports and financial statements for the last three financial years, audited by reputable firms or auditors and approved by the competent legislative bodies, in the case of a project to modernize, rehabilitate or expand a technical agency of the State
  3. for credit lines, the list and summary description of the projects for which those lines are intended.

Other documents that may be required by the Bank

In addition to the documents referred to above, the applicant (State or its agencies)  must be in a position to promptly communicate to EBID, or make available to the mission team in charge of appraisal, all other documents deemed necessary for the further appraisal of the project, in particular :

  • the legislative or regulatory texts governing the sector (treaty, code, decree, law, framework agreement, etc.), the specific approval for the exercise of the activity (concession, etc.), the establishment agreement or any equivalent legal document ;
  • the legislative or regulatory text expropriating and/or possibly compensating the land or land used as a site for the project ;
  • proof of authorization or freedom to transfer foreign currency for the repayment of debts;
  • manuals of administrative, financial and accounting procedures;
  • copies of agreements signed with other partners/donors related to the project;
  • an environmental and social impact assessment of the project;
  • any other complementary documents

Private Sector
Documents to be attached to the application

In order to enable the Bank to gauge the eligibility of a private project and the necessity of continuing appraisal, the promoter must provide all the information necessary to support its request for financing or guarantee, in particular :

  • a) a business plan or feasibility study providing, inter alia, the following information :

(i) the baseline situation: description of the existing situation in terms of equipment, regulations, sectoral policy, etc. ;

(ii) a detailed description of the project covering market, organisational, technical, economic and financial aspects;

(iii) information on promoters, including their financial situation and management experience ;

(iv) the implementation plan, including the status of potential government approvals; and;

  • b) activity reports and financial statements for at least the last three financial years, approved by the company’s competent decision-making bodies and audited by reputable firms or auditors, in the case of modernisation, rehabilitation or extension projects;
  • c) in the case of credit lines to financial and other institutions, the list of projects for which the credit lines are intended;
  • d) the statutes of the company, the certificate of registration in the Trade and Personal Property Credit Registry or any equivalent legal document ;
  • e) the list of the main shareholders (holding at least 5% of the capital) and the breakdown of the share capital, the amount of the subscribed, called and paid-up capital, of the uncalled, called-up capital ;
  • f) a list of the principal officers (members of the board of directors and management) and their curricula vitae ;
  • g) a statement of outstanding debts (personnel, social security organisation, public treasury);
  • a statement of receivables and payables to major shareholders, officers and employees and the related guarantees.

Other documents that may be required by the Bank

In addition to the documents referred to above, the promoter shall be in a position to communicate promptly to EBID, or to make available to the preparation or appraisal mission, any other documents deemed necessary for the further appraisal of its project, notably:

  • a) the legislative or regulatory texts defining the legal framework of the activity (treaty, code, framework convention, etc.), the specific approval for the exercise of the activity (licence, concession, etc.), the establishment agreement or any equivalent legal document (headquarters agreement, free zone approval, election to the advantages of an investment code, etc.) ;
  • b) proof of authorisation or freedom to transfer currency for the repayment of debts ;
  • c) documents establishing the legal basis for pricing: freedom of pricing, administered prices, indexation, etc. ;
  • d) the names of the parent company, subsidiary(ies) and other group structures (if any), with an indication of the proportion of capital ownership ;
  • e) the decision to authorise the funding requested, by the competent statutory body;
  • f) the powers of the persons called upon to sign the agreement relating to the competition applied for (appointment decision, special or general powers, etc.);
  • g) a certificate from the court of the registered office that the company is not in suspension of payments, judicial settlement, liquidation of assets or any other similar situation;
  • h) manuals of administrative, financial and accounting procedures and manuals of procedures and means of debt recovery;
  • i) copies of agreements signed with other partners/donors related to the project;
  • j) a copy of the title deed, concession, lease or any other equivalent document for the project site and, where applicable, copies of other real estate and securities owned by the company and any guarantors;
  • k) extracts from the registers of the land registrar on guarantees, easements and other possible encumbrances on immovable property;
  • l) an extract from the court clerk’s office or equivalent legal document on legal entries and publications concerning the life of the company, the status of pledges, etc. ;
  • m) la liste des relations bancaires et des numéros de comptes correspondants ;
  • n) an attestation or letter authorizing the banks to provide EBID with any information requested;
  • o) the list and contact details of the main external collaborators (lawyer(s), legal adviser(s), tax adviser(s), notary(ies), auditor(s), etc.) and a certificate or letter authorising them to provide the Bank with any information it may require;
  • p) a certificate or letter delivered to the Bank’s valuation mission authorizing any person required to provide any information requested by the holder;
  • q) an environmental impact assessment of the project;
  • r) any other additional documents.

Enter your keyword