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, in a statement, said the upgrade would strengthen its position among regional development finance institutions and potentially improve its access to international capital markets on more favourable terms.
Moody’s said EBID had maintained sound solvency, moderate capitalisation and resilient asset quality despite the significant expansion of its lending operations.
The rating agency also cited the Bank’s efforts to diversify its funding sources and sustain strong shareholder support, including continued paid-in capital contributions and strategic partnerships.
The African Development Bank (AfDB) became EBID’s first institutional shareholder following the approval of its entry in June 2026.
EBID said the partnership was expected to strengthen its capital base and governance, while enhancing its capacity to mobilise resources for development projects across West Africa.
Dr George Agyekum Donkor, President and Chairman of the EBID Board of Directors, said the rating upgrade recognised the Bank’s progress in strengthening its financial position and institutional capacity.
He said the upgrade also reflected the confidence of shareholders, development partners and the international community in EBID’s ability to support the development agenda of West Africa.
“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 focuses on infrastructure development, renewable energy financing, private-sector growth and climate resilience.
Under the strategy, the Bank has advanced projects in infrastructure, healthcare and energy aimed at improving electricity access, creating jobs and promoting sustainable economic growth across the subregion.
