Development Bank and ECOWAS Bank for Investment and Development Signed the Umbrella Loan Agreement
On September 17th, 2021, the Development Bank of the Republic of Belarus and the pan-African ECOWAS Bank for Investment and Development (EBID) concluded the Umbrella Loan Agreement. During the online ceremony, the document was signed by Alexander Egorov, the Chairman of the Management Board of the Development Bank, and Dr. George Agyekum Donkor, the President and Chairman of the Board of Directors of EBID.
According to the signed agreement, the Development Bank opened a credit line to the pan-African bank to finance Belarusian deliveries to West African countries.
Alexander Egorov noted: "The Agreement signing will serve as a reliable foundation to provide West African countries with Belarusian agricultural and other equipment by financing of our banks."
Dr. George Agyekum Donkor informed of the readiness to get export loans to finance Belarusian deliveries for the needs of African companies.
For reference: EBID (ECOWAS Bank for Investment and Development) is a pan-African bank headquartered in Lome, Togo, formed by the 15 Member States of the Economic Community of West African States (ECOWAS). For 2020, EBID's assets amounted to $998.3 million, capital - $419.8 million.