Moody’s upgrades EBID rating to B1, citing stronger finances and shareholder support

Moody’s Ratings has upgraded the ECOWAS Bank for Investment and Development (EBID) long-term issuer credit rating from B2 to B1, with a stable outlook, according to a statement on August 14, 2026. This upgrade reflects improvements in EBID's financial position, asset quality, capitalization, and funding profile. The rating agency cited sound solvency, resilient asset quality, and continued shareholder support as key factors contributing to the upgrade.

EBID has been actively diversifying its funding sources as it expands lending across West Africa. The bank's entry as an institutional shareholder, approved in June 2026, with the African Development Bank (AfDB) is expected to strengthen its capital base and institutional standing. EBID President and Chairman Dr. George Agyekum Donkor emphasized that the rating upgrade validates the bank's progress in strengthening its financial foundation and institutional capacity.

He highlighted the bank's commitment to building resilience while expanding its role in supporting development across the ECOWAS region, particularly in infrastructure, energy, and private sector growth. The upgrade aligns with EBID's Growth, Resilience and Optimisation (GRO) Strategy 2026-2030, which focuses on infrastructure development, renewable energy financing, private sector growth, and climate resilience.

The bank has already advanced projects in these sectors, expanding access to essential services, supporting job creation, and promoting sustainable economic growth. The latest Moody's rating is anticipated to bolster investor and development partner confidence as EBID seeks to expand its financing operations and mobilize additional resources for development projects across West Africa.