The ECOWAS Bank for Investment and Development EBID has deepened its long-standing partnership with India following the signing of a new commercial credit line worth 40 million with India Exim Bank. The agreement, concluded in London on 14 August, underscores the growing financial and strategic ties between West Africa and India at a time when the sub-region faces pressing demands for infrastructure, energy and social development.
The facility, signed by EBID President and Chairman of the Board of Directors, Dr George Agyekum Donkor, and Ashok Kumar Vartia, Chief Executive of India Exim Bank's London branch, will be channelled towards supporting developmental projects across the 15-member Economic Community of West African States. For EBID, the arrangement reflects its drive to mobilise resources from diverse partners to accelerate growth in a region where infrastructure gaps, climate shocks and demographic pressures pose complex challenges.
Speaking at the ceremony, Dr Donkor praised India Exim Bank for what he described as a consistent and tangible commitment to Africa's economic transformation. "This new agreement is not just about financing," he said. "It is about creating opportunities for our people and ensuring that critical sectors such as energy, health, transportation, agriculture and infrastructure receive the support they need to underpin sustainable growth."