EBID gets Moody’s upgrade, moves closer to investment-grade status

The ECOWAS Bank for Investment and Development (EBID) has received an upgrade in its credit rating from Moody’s, signaling progress towards investment-grade status. The bank's long-term issuer rating was raised from B2 to B1, with Moody’s citing its solid solvency, appropriate capitalization, and resilient asset quality as key factors. This upgrade was announced in Lomé, Togo, on August 17, 2026, following a rating action published on August 14, 2026.

Moody’s emphasized EBID's capacity to maintain financial strength while expanding its lending operations, as well as its diversification efforts in funding sources and strong shareholder support, including continuous paid-in capital contributions and strategic partnerships. The bank's partnership with the African Development Bank (AfDB) as an institutional shareholder, approved in June 2026, was also highlighted as a significant contributor to its enhanced financial position.

EBID's President and Chairman, Dr George Agyekum Donkor, emphasized that the upgrade validated the confidence placed in the institution by shareholders, partners, and the international community. He noted that it underscored the bank's ability to be both ambitious and resilient, and the credibility of the West African development agenda.

The rating upgrade is seen as a positive development as EBID executes its Growth, Resilience and Optimisation (GRO) Strategy 2026–2030, which focuses on infrastructure development, renewable energy financing, private sector expansion, and climate resilience across West Africa.