Moody’s Ratings upgrade validates EBID’s resilience — Bank President

In a statement in reaction to the upgrade, Dr Donkor said EBID was demonstrating that a regional development bank could be ambitious and also showed that West Africa had a credible, effective institution ready to lead its development agenda.

The President and Chairman of the ECOWAS Bank for Investment and Development (EBID), Dr George Agyekum Donkor, says the bank’s latest rating by global credit rating agency Moody’s Ratings from B2 to B1 is a strong endorsement of its improving financial position and growing stature as a key development finance institution in West Africa.

Last Friday, Moody’s, in its latest ratings, announced the bank’s upgrade, which marks a decisive step in EBID’s steady climb toward investment grade, signalling to global investors and development partners that the bank is on a credible trajectory to access international capital markets on increasingly competitive terms.