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

The ECOWAS Bank for Investment and Development (EBID) has seen its long-term issuer rating upgraded from B2 to B1 by Moody’s Ratings, with a stable outlook. The improvement, announced on August 14, 2026, highlights EBID's strengthened financial position, asset quality, capitalisation, and funding profile, according to the international rating agency.

Factors like EBID's sound solvency, resilient asset quality, continued shareholder support, and its diversification of funding sources, as the bank expands lending across West Africa, contributed to the upgrade. The rating upgrade also reflects EBID's efforts to achieve investment-grade status and bolster its access to international capital markets.

The African Development Bank (AfDB) became EBID's first institutional shareholder in June 2026, a significant move that strengthens the bank's capital base and standing. EBID President and Chairman, Dr George Agyekum Donkor, emphasized that the rating upgrade validates the confidence in the bank's financial foundation and institutional capacity.

The bank will continue to build resilience while expanding its role in supporting development across West Africa, focusing on infrastructure, energy, private sector growth, and climate resilience. EBID's Growth, Resilience and Optimisation (GRO) Strategy 2026–2030 prioritizes these areas, with recent advances in infrastructure, healthcare, and energy projects aimed at expanding access to essential services, job creation, and sustainable economic growth.

The latest Moody’s rating is expected to bolster investor and development-partner confidence as EBID seeks to expand financing operations and mobilize additional resources for development projects throughout West Africa.