The ECOWAS Bank for Investment and Development (EBID) on Sunday announced that Moody’s Ratings has upgraded its long-term issuer rating to B1 from B2, with a stable outlook, a powerful endorsement of the Bank’s strengthening financial position, resilience, and rising stature as a pivotal development finance institution in West Africa.
This upgrade, published by Moody’s on August 14, 2026, marks a decisive step in EBID’s steady climb toward investment grade, signaling to global investors and development partners that the Bank is on a credible trajectory to access international capital markets on increasingly competitive terms. Moody’s cited EBID’s sound solvency, moderate capitalisation, and resilient asset quality, even as the Bank continues to expand lending operations at a significant pace, as key factors underpinning the upgrade. The international rating agency also highlighted EBID’s success in diversifying its funding sources and sustaining strong shareholder support, including continued paid-in capital contributions and strategic partnerships.
A landmark driver of this progress was the historic entry of the African Development Bank (AfDB) as EBID’s first institutional shareholder approved in June 2026. This partnership not only strengthens EBID’s capital base and governance standards but also validates its growing credibility as a regional leader capable of mobilising large-scale resources for structural transformation across West Africa.
“This upgrade is a clear recognition of the progress EBID has made in strengthening its financial foundation and institutional capacity,” said Dr. George Agyekum Donkor, President and Chairman of EBID’s Board of Directors. “It validates the confidence that our shareholders, partners, and the international community have placed in us. 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.”
The upgrade comes as EBID rolls out its Growth, Resilience and Optimisation (GRO) Strategy 2026–2030, a bold five-year plan prioritising infrastructure development, renewable energy financing, private sector growth, and climate resilience. In recent weeks alone, EBID has ramped up strategic operations, advancing projects in infrastructure, healthcare, and energy that are already improving electricity access, creating jobs, and laying the foundation for sustainable economic growth across the subregion.
