In a move to bolster private sector growth and support Small and Medium-sized Enterprises (SMEs) in C\u00f4te d’Ivoire, the ECOWAS Bank for Investment and Development (EBID) has approved a XOF 10 billion (approximately USD 16.3 million) line of credit to the Banque Sah\u00e9lo-Saharienne pour l\u2019Investissement et le Commerce (BSIC-CI SA). The agreement was formalised during a signing ceremony held on Monday, January 27, 2025, in Abidjan, C\u00f4te d’Ivoire.<\/p>\n
This strategic financing facility is designed to empower SMEs operating in key sectors critical to C\u00f4te d’Ivoire\u2019s economic development, including agriculture and agro-industry, industry, infrastructure, transport, and services. By providing access to much-needed capital, the initiative aims to stimulate job creation, enhance productivity, and foster inclusive economic growth across the region.<\/p>\n
In his address at the ceremony, Dr. George Agyekum Donkor, President and Chairman of the Board of Directors of EBID, emphasised the Bank\u2019s unwavering commitment to driving sustainable development and job creation in the ECOWAS region. \u201cThis XOF 10 billion line of credit underscores EBID\u2019s dedication to fulfilling its mandate of promoting economic growth and social progress. Our partnership with BSIC-CI SA aligns seamlessly with our strategic vision and will have a transformative impact on Ivorian Communities,\u201d he stated.<\/p>\n
Dr. Donkor further highlighted the Bank\u2019s focus on gender inclusion, noting that a portion of the funds will be specifically allocated to businesses owned or managed by women. \u201cBy empowering women entrepreneurs, we are not only advancing gender equality but also unlocking the full potential of the private sector to drive sustainable development,\u201d he added.<\/p>\n
Mr. Adeboke Mensan Affambi, Managing Director of BSIC-CI SA, expressed his gratitude to EBID for its support and reaffirmed his Bank\u2019s commitment to ensuring the effective utilisation of the funds. \u201cThis partnership with EBID represents a significant milestone in our mission to support SMEs and contribute to the economic transformation of C\u00f4te d’Ivoire. We are committed to deploying the facility efficiently to create tangible, positive impacts on the lives of individuals and communities,\u201d he said.<\/p>\n
The Chairperson of the Board of Directors of BSIC C\u00f4te d’Ivoire, Mrs. Lydie Ahoussi Guib\u00e9i, expressed appreciation to EBID. She affirmed the commitment of BSIC – CI to apply this facility solely for the purpose for which it was intended.<\/p>\n
This latest financing agreement further solidifies EBID\u2019s role as a key partner in C\u00f4te d’Ivoire\u2019s economic development. To date, the Bank\u2019s total commitments in the country amount to approximately USD 803 million, reflecting its ongoing efforts to provide innovative financial solutions that address the region\u2019s most pressing development challenges.<\/p>\n","protected":false},"excerpt":{"rendered":"
In a move to bolster private sector growth and support Small and Medium-sized Enterprises (SMEs) in C\u00f4te d’Ivoire, the ECOWAS Bank for Investment and Development (EBID) has approved a XOF 10 billion (approximately USD 16.3 million) line of credit to the Banque Sah\u00e9lo-Saharienne pour l\u2019Investissement et le Commerce (BSIC-CI SA). The agreement was formalised during […]<\/p>\n","protected":false},"author":5,"featured_media":277736,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[4],"tags":[],"class_list":["post-277735","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"jetpack_featured_media_url":"https:\/\/www.bidc-ebid.org\/en\/wp-content\/uploads\/BSIC.jpg","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/www.bidc-ebid.org\/en\/wp-json\/wp\/v2\/posts\/277735","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.bidc-ebid.org\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.bidc-ebid.org\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.bidc-ebid.org\/en\/wp-json\/wp\/v2\/users\/5"}],"replies":[{"embeddable":true,"href":"https:\/\/www.bidc-ebid.org\/en\/wp-json\/wp\/v2\/comments?post=277735"}],"version-history":[{"count":1,"href":"https:\/\/www.bidc-ebid.org\/en\/wp-json\/wp\/v2\/posts\/277735\/revisions"}],"predecessor-version":[{"id":277737,"href":"https:\/\/www.bidc-ebid.org\/en\/wp-json\/wp\/v2\/posts\/277735\/revisions\/277737"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.bidc-ebid.org\/en\/wp-json\/wp\/v2\/media\/277736"}],"wp:attachment":[{"href":"https:\/\/www.bidc-ebid.org\/en\/wp-json\/wp\/v2\/media?parent=277735"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.bidc-ebid.org\/en\/wp-json\/wp\/v2\/categories?post=277735"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.bidc-ebid.org\/en\/wp-json\/wp\/v2\/tags?post=277735"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}