The ECOWAS Bank for Investment and Development (EBID) and the Banque Nationale pour le Développement Economique (BNDE) held a signing ceremony on April 30, 2026, to formalise a loan agreement establishing a new credit line of twenty (20) billion CFA francs dedicated to the financing of Small and Medium Enterprises (SMEs) in the Republic of Senegal.
The ceremony marks a significant milestone in the longstanding partnership be- tween the two institutions and follows a successful first operation undertaken in 2021, under which BNDE benefited from a ten (10) billion CFA francs credit line that enabled the financing of fifteen (15) SME subprojects across key sectors of the economy.
In the same vein, the new loan is exclusively earmarked for SME financing, in recognition of the critical role SMEs play in Senegal’s economy. SMEs account for approximately 99.8% of active enterprises in the country, yet receive only about 9% of total bank credit, a gap that continues to constrain investment, growth, and sustainable job creation.
In his intervention, Dr. George Agyekum Donkor, President of EBID and Chairman of the Board of Directors, emphasised that this operation is fully aligned with the Bank’s mandate to promote inclusive and sustainable development within West Africa.
He reaffirmed EBID’s commitment to strengthening national financial institutions as effective conduits for private sector development, stating that “supporting SMEs is essential to accelerating economic transformation, value creation and employment.”
The Managing Director of BNDE, Mr. Mamadou Faye, stressed that the new credit line responds to the Bank’s strategic ambition under its 2025–2029 Strategic Plan to become a more proactive, innovative, and sustainable development bank.
This financing agreement reflects EBID’s strategic orientation under its GRO Strategy, which prioritises impactful financing aimed at strengthening economic resilience and expanding private sector opportunities across West Africa.
Recommended for you
Leave a Reply
Leave a Reply
