EBID secures major credit rating upgrade from Moody’s
The ECOWAS Bank for Investment and Development (EBID) has secured a major credit rating upgrade from Moody’s Ratings, with its long term issuer rating raised to B1 from B2, reinforcing the Bank’s steady progress towards investment grade status. The upgrade, which came with a stable outlook, was described by EBID as a strong endorsement of … The post EBID secures major credit rating upgrade from…
The ECOWAS Bank for Investment and Development (EBID) has achieved a significant credit rating upgrade from Moody's Ratings, elevating its long-term issuer rating from B2 to B1 with a stable outlook. This upgrade signifies EBID's steady progress towards investment grade status, according to the Bank. Moody's acknowledged EBID's sound solvency, moderate capitalization, and resilient asset quality despite the expansion of its lending operations.
The rating agency also highlighted EBID's efforts to diversify its funding sources and maintain strong shareholder support, including continued paid-in capital contributions and strategic partnerships. The African Development Bank's entry as EBID's first institutional shareholder in June 2026 is cited as a major factor behind the progress.
EBID's President and Chairman, Dr George Agyekum Donkor, emphasized that the upgrade acknowledges the Bank's strengthened financial foundation and institutional capacity. The upgrade is seen as a recognition of EBID's ambitious and resilient approach, affirming its credibility as a development institution in West Africa. The bank's Growth, Resilience and Optimisation (GRO) Strategy, set for 2026 to 2030, focuses on infrastructure development, renewable energy financing, private sector growth, and climate resilience, with the aim of expanding electricity access, creating jobs, and supporting sustainable economic growth across the subregion.
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