AfDB Invests $30m Equity In EBID, Becomes First Institutional Shareholder

African Development Bank Group says it has committed a $30 million equity investment in ECOWAS Bank for Investment and development, becoming EBID’s first international development finance institution shareholder.

Approved by AfDB’s board on June 17, 2026 in Abidjan, the move marks a shift from EBID’s previous structure of Member States-only ownership. The investment is paired with a $70 million long-term credit line to fund high-impact projects, especially in West Africa’s renewable energy sector, as EBID pushes its GRO Strategy 2026-2030.

EBID in a statement said, “the entry of the AfDB represents a historic evolution in EBID’s ownership structure, previously composed exclusively of Member States. It reflects the Bank’s commitment to opening its capital to strategic partners in order to strengthen its financial capacity, governance standards and development impact.

“The transaction aligns with EBID’s GRO Strategy (2026–2030), which seeks to position the institution as a leading development finance institution capable of mobilising greater long-term resources while expanding its contribution to regional development.”

It pointed out that “the partnership significantly enhances EBID’s credibility with international investors and broadens access to competitive funding sources. It is expected to strengthen the Bank’s credit profile, support the financing of transformative projects in priority sectors such as energy, infrastructure and private sector development, reinforce resource mobilisation efforts, and further improve governance and operational effectiveness.

“Through the resources mobilised under this operation, EBID will support projects with substantial socio-economic impact, particularly in clean energy. The $70 million credit line is expected to catalyse up to $230 million in total project financing, improve electricity access for more than 250,000 households, create jobs, and reduce carbon emissions by approximately 355,500 tonnes annually across the region.”

Speaking on the development, the president and chairman of the Board of Directors of EBID, Dr. George Donkor stated, “the entry of the African Development Bank Group into EBID’s shareholding constitutes a historic and transformative milestone for our institution. This strategic partnership reflects strong confidence in our vision and development model. It marks a decisive step in the implementation of our strategic plan by strengthening our capacity to mobilise large-scale resources and expand our impact in support of sustainable development in West Africa.”

According to him, through this partnership, we will accelerate efforts to address the financing needs of our economies, particularly in energy, infrastructure and private sector development.

He added that this landmark partnership marks a new phase in EBID’s evolution and reinforces its ambition to serve as a leading catalyst for development finance in West Africa. Building on this momentum, the Bank will further expand its impact and contribute more decisively to the sustainable transformation of the region’s economies.