Accra, Aug. 18, GNA – Moody’s Ratings has upgraded the long-term issuer rating of the ECOWAS Bank for Investment and Development (EBID) to B1 from B2, with a stable outlook.
The upgrade reflects the Bank’s sound solvency, moderate capitalisation, resilient asset quality, diversified funding sources and continued shareholder support, Moody’s said.
EBID announced the upgrade, which was published by Moody’s on August 14, 2026, saying the new rating strengthened its position among regional development finance institutions and could support access to international capital markets on more favourable terms.
Moody’s said EBID had maintained sound solvency, moderate capitalisation and resilient asset quality despite a significant expansion in lending operations.
The rating agency also cited the Bank’s efforts to diversify its funding sources and maintain strong shareholder support, including continued paid-in capital contributions and strategic partnerships.
The African Development Bank (AfDB) became EBID’s first institutional shareholder after its entry was approved in June 2026.
EBID said the partnership was expected to strengthen its capital base and governance and enhance its ability to mobilise resources for development projects across West Africa.
Dr George Agyekum Donkor, President and Chairman of EBID’s Board of Directors, said the upgrade recognised the Bank’s progress in strengthening its financial position and institutional capacity.
He said the rating also reflected the confidence of shareholders, partners and the international community in the Bank’s ability to support West Africa’s development agenda.
“We are demonstrating that a regional development bank can be both ambitious and resilient, and that West Africa has a credible, effective institution ready to lead its development agenda,” he said.
The upgrade comes as EBID implements its Growth, Resilience and Optimisation (GRO) Strategy 2026–2030, which prioritises infrastructure development, renewable energy financing, private sector growth and climate resilience.
EBID said it had recently advanced projects in infrastructure, healthcare and energy aimed at improving electricity access, creating jobs and supporting sustainable economic growth across the subregion.
GNA
Edited by Kenneth Sackey