Ecowas Bank, ATIDI partner to support economic activity in West African

The ECOWAS Bank for Investment and Development (EBID), the African Trade & Investment Development Insurance (ATIDI) have signed a Memorandum of Understanding (MoU) aimed at strengthening support for the private sector in the West African sub-region.

The memorandum, which was signed on May 29, 2025, on the sidelines of the 2025 African Development Bank Group Annual Meetings, in Abidjan, Côte d’Ivoire, establishes a general framework for cooperation between EBID and ATIDI aimed at de-risking private sector transactions in the subregion to attract investors and bring in more competitive resources.

Under this agreement, the two institutions will be collaborating to provide solutions targeting economic activities in key sectors of the economy while contributing to the expansion of industry, infrastructure development and the establishment of a regional value chain.

In his remarks, while noting the commendable international credit ratings of Member States such as Benin, Côte d’Ivoire and Cabo Verde, Dr George Agyekum Donkor, President and Chairman of the Board of Directors of EBID emphasized the importance of continuing to implement strategies that foster a conducive business climate to accelerate private sector finance inflows for infrastructure development.

In this regard, he stated that “Credit Insurance is a strategic tool to mitigate the impact of the macroeconomic and political challenges faced by the sub-region to attract funding on better terms to support the developmental agenda of the ECOWAS States. With a population set to exceed 500 million by 2040, and urbanisation driving new infrastructure, energy, and digital demands, the pressure to finance sustainable development has never been so crucial for our sub-region”.

Mr Manuel Moses, Chief Executive Officer of ATIDI, expressed that, “This MoU marks a significant milestone in several ways. First, it represents a concrete step towards enhancing access to finance for the private sector, particularly for SMEs which is the backbone of Africa’s economy.

It reinforces our shared commitment to advancing regional integration, a critical pillar in Africa’s journey towards economic transformation. Most importantly, this MoU reflects the need for and power of strategic collaboration among key players in development finance.