The ECOWAS Bank for Investment and Development (EBID) and India Exim Bank have signed a commercial credit line agreement worth USD 40 million in London. The signing ceremony was attended by Dr. George Agyekum Donkor, President and Chairman of EBID, and Mr. Ashok Kumar Vartia, Chief Executive of India Exim Bank’s London Branch. This agreement is intended to support developmental projects across the ECOWAS sub-region, with a focus on sectors such as energy, health, transportation, agriculture, and infrastructure.
India Exim Bank has played a catalytic role in promoting international trade and investment between India and partner countries, including those in Africa, while supporting the global initiatives of Indian businesses. The bank’s global network of offices and financial, advisory, and capacity-building services have helped strengthen trade relations and foster sustainable development in the region.
Dr. Donkor praised India Exim Bank for its commitment to collaborating with the ECOWAS sub-region to deliver development projects that improve the well-being of vulnerable populations. He emphasized the importance of increasing investments in key sectors to drive economic growth and resilience in West Africa amid global uncertainties.
Mr. Vartia highlighted that the new credit line represents a milestone in India Exim Bank’s ongoing support for Africa’s developmental projects. Ms. Trupti Mhatre, General Manager of India Exim Bank, noted that the structured long-term credit facility would assist infrastructure projects executed by Indian exporters and strengthen partnerships between India and Africa.
India Exim Bank has maintained a long-standing relationship with EBID since 2006, providing six credit facilities totaling USD 1.14 billion to support the export of goods and services from India to Africa. This latest agreement continues that legacy, reinforcing the financial and developmental collaboration between the two institutions.
