EBID STRENGTHENS AFRICA–INDIA ECONOMIC TIES WITH $40M FUNDING PACKAGE FOR DEVELOPMENT PROJECTS

EBID secures $40m support from India Exim Bank to drive infrastructure and development projects across West Africa.

Africa Development Finance Project Economic-cooperation Strategic investment Growth.
Dr. George Agyekum Donkor, President and Chairman of EBID
Dr. George Agyekum Donkor, President and Chairman of EBID



The ECOWAS Bank for Investment and Development (EBID) has secured a USD 40 million commercial credit line from the Export-Import Bank of India (India Exim Bank), signaling a deepening of Africa–India economic cooperation and renewed commitment to regional transformation in West Africa.

The agreement was formalized in London, where Dr. George Agyekum Donkor, President and Chairman of EBID, signed alongside Mr. Ashok Kumar Vartia, Chief Executive of India Exim Bank, London Branch. The facility will be directed toward strategic investments in energy, transportation, health, agriculture, and infrastructure sectors seen as pivotal to driving inclusive growth and resilience across the sub-region.

Dr. Donkor praised India Exim Bank for its sustained partnership with ECOWAS over nearly two decades, stressing that such collaborations were crucial for addressing the development needs of vulnerable communities while equipping West African economies to withstand global shocks.

Mr. Vartia described the deal as “a key milestone” in India’s continued support for African development, while Ms. Trupti Mhatre, General Manager of India Exim Bank, highlighted that the structure of the long-tenor credit line will also boost Indian exporters executing infrastructure projects across the continent.

This latest financing adds to a strong record of cooperation. Since 2006, India Exim Bank has extended six facilities to EBID amounting to USD 1.14 billion, reinforcing India’s position as a reliable partner in Africa’s economic transformation.

Established in 1982, India Exim Bank is fully owned by the Government of India and has played a catalytic role in integrating Indian enterprises with the global economy. Meanwhile, EBID, headquartered in Lomé, Togo, remains one of West Africa’s most critical development finance institutions, investing in projects ranging from infrastructure to rural development and social services.

With this new credit line, EBID and India Exim Bank are not only financing projects but also forging stronger economic bridges between Africa and India, with long-term benefits for trade, investment, and sustainable growth.

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