Belarus Development Bank and Pan-African Bank EBID sign loan agreement
An archive photo
MINSK, September 17 (BelTA) – The Development Bank of the Republic of Belarus and the ECOWAS Development and Investment Bank (EBID) have reached a basic loan agreement. The document was signed by Chairman of the Board of Directors of the Development Bank Aleksandr Yegorov and Chairman and Chairman of the Board of Directors of EBID George Agyekum Donkor in an online ceremony, BelTA learned from the Belarusian bank.
In accordance with the agreement, the Development Bank will provide loans to the Pan-African Bank to finance the supply of Belarusian products to West African countries. According to Aleksandr Yegorov, this agreement will facilitate the export of agricultural and other Belarusian machinery to West Africa.
EBID President said that the export loans will be used to meet the needs of African companies for Belarusian products.
The ECOWAS Investment and Development Bank (EBID) is the financial arm of the Economic Community of West African States (ECOWAS) comprising fifteen member states. The bank is headquartered in Lomé (Togolese Republic). In 2020, EBID’s assets amounted to $ 998.3 million, authorized capital was $ 419.8 million.