the ecowas bank ebid in brief

EBID IN BRIEFThe ECOWAS Bank

www.bidc-ebid.org2020

http://www.bidc-ebid.org/en/


READ MORECopyright@EBID 2020

128, Boulevard du 13 Janvier B.P. 2704 Lomé – Togo Tel: +228 22 21 68 64 Fax: +228 22 21 86 84 [email protected] / www.bidc-ebid.org

For Further Information please contact :The PresidentECOWAS Bank for Investment and Development (EBID)

128, Boulevard du 13 JanvierB.P. 2704 Lomé – TogoTel: +228 22 21 68 64Fax: +228 22 21 86 [email protected] / www.bidc-ebid.org

BACKGROUNDVISIONMISSION AND OBJECTIVESCORPORATE OBJECTCAPITAL STRUCTURECONDITIONS FOR INTERVENTION

Beneficiaries of EBID InterventionsGeneral Conditions Applicable

CurrencyAmount

Submission of Requests for FundingORGANIZATION AND MANAGEMENTAREAS OF INTERVENTIONMODE OF INTERVENTIONSOME KEY ACHIEVEMENTSEXAMPLES OF PROJECTS IN MEMBER STATES

Public SectorPrivate Sector

PROSPECTSSOME EBID PARTNERSORGANIZATIONAL CHART OF EBID

CON

TEN

TS

EBID IN BRIEF

EBID IN BRIEF 4



The ECOWAS Bank for Investment andDevelopment (EBID) is the financial arm of theEconomic Community of West African States(ECOWAS) comprising fifteen (15) Member Statesnamely, Benin, Burkina Faso, Cape Verde, Côted’Ivoire, The Gambia, Ghana, Guinea, Guinea-Bissau, Liberia, Mali, Niger, Nigeria, Senegal,Sierra Leone and Togo.

EBID emerged as a banking group (the EBIDGroup) after the transformation of the erstwhileFund for Cooperation, Compensation andDevelopment of the Economic Community of WestAfrican States (ECOWAS Fund) in 1999.

[The ECOWAS Fund was established in1975 at the same time as the erstwhileExecutive Secretariat of the EconomicCommunity of West African States (thepresent ECOWAS Commission) andcommenced operations in 1979].

The ECOWAS Bank for Investment andDevelopment (EBID) started operations in 1999 as

a holding company with two specializedsubsidiaries:

ECOWAS Regional Development Fund (ERDF)•for financing the public sector;

ECOWAS Regional Investment Bank (ERIB) for•financing the private sector.

In 2006, the ECOWAS Authority of Heads of Stateand Government agreed to reorganize the EBIDGroup into one unified entity with two windows:one for promoting the private sector and the other,for developing the public sector in order to extendthe services of the Bank to a wider range ofstakeholders involved in sustainable economicdevelopment activities and programmes at nationaland regional levels.

The Bank has been operating under the newstructure since January 2007.

The headquarters of the Bank is in Lomé, TogoleseRepublic.

BACKGROUND

BACKGROUNDVISIONMISSION AND OBJECTIVESCORPORATE OBJECTCAPITAL STRUCTURECONDITIONS FOR INTERVENTIONORGANIZATION AND MANAGEMENTAREAS OF INTERVENTIONMODE OF INTERVENTIONSOME KEY ACHIEVEMENTSEXAMPLES OF PROJECTS IN MEMBER STATESPROSPECTSSOME EBID PARTNERSORGANIZATIONAL CHART OF EBID


EBID IN BRIEF 5



VISION

The vision of the Bank is to be the leading regionalinvestment and development finance bank in WestAfrica, a powerful financial institution for privatesector promotion and financing in the region andan effective instrument for poverty alleviation,wealth creation and job promotion for the well-being of the people of the region.

MISSION AND OBJECTIVES

The mission of EBID is to contribute towards creatingthe conditions capable of enhancing the emergenceof an economically strong, industrialized andprosperous West Africa that is perfectly integratedboth internally, and in the global economic system inorder to take advantage of the opportunities andprospects offered by globalization.

By virtue of its Articles of Association the Bankaims to:

Contribute to attaining the objectives of the•Community by supporting infrastructureprojects relating to regional integration or anyother development projects in the public andprivate sectors;

Assist in the development of the Community by•funding special programs.

CORPORATE OBJECT

The corporate object of EBID is to:

Grant loans and guarantees for financing•investment projects and programmes for theeconomic and social development of MemberStates;



EBID IN BRIEF 6



Mobilize resources within and outside the•Community for the financing of its investmentprojects and programmes;

Provide the technical assistance necessary•within the community for the study,preparation, financing and execution ofdevelopment projects and programmes;

Receive and manage the portion of the•Community Levy resources meant for financingCommunity development projects;

Receive and manage any Community special•funds relevant to its corporate object;

Carry out any commercial, industrial or•agricultural activity, in as much as such activityis secondary to its object.

Within the scope of its corporate object, the Bankcooperates with national and sub-regionaldevelopment organizations operating within theCommunity. In the same vein, it cooperates withother international organizations with similar aimsand other institutions involved in the developmentof the Community.

CAPITAL STRUCTURE

The authorized capital is US$1.5 billion. Seventypercent (70%) of the authorized capital isreserved for regional members (15 ECOWASMember States) while the remaining 30% orabout US$450 million is open to subscription bynon-regional members.

As at 31 December 2019 only regional membershad subscribed to the capital structured asfollows:

ITEM AMOUNT in millions of UA

Authorised Capital 1 000.0Subscribed Capital 700.0Called Up Capital 392.7Paid Up Capital 299.3Unpaid Capital 93.4Callable Capital 307.3

Structure of EBID’s Authorized Capital as at 31 December 2019



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Distribution of EBID’s Authorized Capital per Member State

CÔTE D’IVOIRE14.76%

CABO VERDE0.95%

2.86%

GAMBIA, THE

GHANA

GUINEA

LIBERIA

GUINEA BISSAU

BENIN3.43%4.19%

TOGO

2.48%

15.71%

1.43%

2.76%

BURKINA FASO

SIERRA LEONE

7.52%SENEGAL

31.24%

2%

6.38%

1.81%

NIGERIA

NIGER

MALI

2.48%



EBID IN BRIEF 8



CONDITIONS FOR INTERVENTION

Beneficiaries of EBID Interventions

EBID financial and technical assistance is open tothe following:

ECOWAS Member States or their agencies;•

Public companies, private companies and mixed•enterprise corporations of ECOWAS MemberStates;

Local financial institutions;•

Corporate bodies from ECOWAS Member States•or from foreign countries desirous of investing inthe ECOWAS zone, in sectors within EBID’s areasof intervention.

General Conditions Applicable

CURRENCY

Loan amounts are denominated in Units ofAccount (UA), which is equivalent to the SpecialDrawing Right (SDR) of the InternationalMonetary Fund (IMF). Exceptionally, they may bedenominated in local currency if the resources aremobilized locally;

Guarantees issued or demanded by EBID aredenominated in the currency of the transactionguaranteed;

Document processing fees, interest and other feesare denominated in the same currency as the loan,guarantee or other counter guarantee.

AMOUNT

The Bank’s Level of Intervention per Loan is asFollows:

Minimum amount of UA1 million (about•US$1.5 million);

Maximum amount of UA 20 million (about•US$30 million) for national public sectorprojects;

Maximum amount of UA 30 million (about•US$45 million) for regional public sectorsprojects;

Maximum amount of UA 15 million (about•US$22.5 million) for private sector projects.



CurrencyAmount

Submission of Requests for FundingORGANIZATION AND MANAGEMENTAREAS OF INTERVENTIONMODE OF INTERVENTIONSOME KEY ACHIEVEMENTSEXAMPLES OF PROJECTS IN MEMBER STATESPROSPECTSSOME EBID PARTNERSORGANIZATIONAL CHART OF EBID


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Submission of Requests for Funding

Requests for funding are addressed to:

The President

ECOWAS Bank for Investment and Development (EBID)

128, Boulevard du 13 JanvierB.P. 2704 Lomé – TogoTel: +228 22 21 68 64Fax: +228 22 21 86 84

[email protected] / www.bidc-ebid.org

ORGANIZATION AND MANAGEMENT

EBID decision-making bodies:

Board of Governors;•

Board of Directors;•

President.•

The Board of Governors is the highest decision-making body and has oversight functions over theBank’s management and administration.

The Board of Directors is responsible for generaloperations of the Bank.



CurrencyAmount

Submission of Requests for FundingORGANIZATION AND MANAGEMENTAREAS OF INTERVENTIONMODE OF INTERVENTIONSOME KEY ACHIEVEMENTSEXAMPLES OF PROJECTS IN MEMBER STATESPROSPECTSSOME EBID PARTNERSORGANIZATIONAL CHART OF EBID


EBID IN BRIEF 10



The President is responsible for the day to daymanagement of EBID and his powers are defined inthe Articles of Association. The President is assistedby two Vice-Presidents namely, the Vice-PresidentFinance and Corporate Services and the Vice-President Operations.

AREAS OF INTERVENTION

Operational activities of EBID are intended to laythe foundation for the sustainable development ofMember States of the Community through thefinancing of regional and national (public andprivate) projects. The Bank operates primarily in thefollowing areas:

Infrastructure and Basic Amenities;•

Rural Development and Environment (agriculture,•flood control, livestock breeding, renewableenergy, rural water supply, irrigation, fisheries,ecosystem protection, capacity building);

Social Sector (support to decentralization,•education, municipal facilities, health,vocational training);

Development of digital coverage;•

Industry (agro-industry, mining industry, other•industries, technology transfer, technologicalinnovation);

Services (financial services, services related to•information technology, financial engineering,hotels, etc.).

MODE OF INTERVENTION

EBID intervenes in the form of:

Long, Medium and Short-Term Loans; •

Equity Participation; •

Granting of Lines of Credit and Putting in Place•Framework Agreements for Refinancing;

Issue and Guarantee of Loans, Debentures,•Bonds and Other Securities;

Financial Engineering Operations and Services.•



EBID IN BRIEF 11



SOME KEY ACHIEVEMENTS

Decades of Experience in Project Financing•within and among ECOWAS Member States;

Major Partner for Regional Integration•Programmes and Implementation of Public-Private Sector Partnerships in Member States;

Initiator of the African Biofuels and Renewable•Energy Fund (ABREF) now ABREC;

Partner and Manager of the Cultural Industries•Guarantee Fund (CIGF);

Founding Shareholder in ASKY Airlines;•

Founding Shareholder in Ecobank Transnational•Inc. (ETI).

EXAMPLES OF PROJECTS IN MEMBER STATES

Public Sector

Interconnection of the Mali-Côte d’Ivoire•Electricity Network (Mali);

Construction of the Samendeni Dam and•Hydroelectric Power Station (Burkina Faso);

Rehabilitation of the Akatsi-Aflao Road (Ghana); •

Rehabilitation and Equipping of Health Facilities•(Togo);

Enhancement of the Portable Water Supply•System in Tafire Town and the SurroundingCommunities of Badikaha and N’golodougou(Côte d’Ivoire);

Construction of a 120MW Thermal Station at•Maria Gleta (Benin).

Private Sector

Creation of the Cement Factory in Kagbelen by•Diamond Cement Company (Guinea);

Installation and Operation of an Intravenous•Fluids Factory at Aveta by DO PHARMA (Togo);

Construction of a 220MW Thermal Power Plant•and Dual Fuel Conversion Component of theMines Reserve Plant at Kpone and Tema by theVolta River Authority (Ghana);

Construction of a Turn-Key 60MW Kounoune 2•Station Diesel Station by SENELEC (Senegal);

Procurement and Operation of the 3rd Global•Telecommunications License by AlphaTélécommunication SA (ATEL MALI SA) in Mali;

BACKGROUNDVISIONMISSION AND OBJECTIVESCORPORATE OBJECTCAPITAL STRUCTURECONDITIONS FOR INTERVENTIONORGANIZATION AND MANAGEMENTAREAS OF INTERVENTIONMODE OF INTERVENTIONSOME KEY ACHIEVEMENTSEXAMPLES OF PROJECTS IN MEMBER STATES

Public SectorPrivate Sector

PROSPECTSSOME EBID PARTNERSORGANIZATIONAL CHART OF EBID


EBID IN BRIEF 12



Extension and Densification of SONATEL Fixed and•Mobile Telecommunication Networks (Senegal);

Construction and Operation of the Henry Konan•Bédié Toll Bridge by SOCOPRIM S.A. (Côte d’Ivoire);

Construction and Operation of a 5 Star Hotel•Complex in the Radisson Blu Chain (Côte d’Ivoire);

Construction of Kempinski Hotel (Ghana);•

Line of Credit to La Banque de l’Habitat in•Senegal to Enhance the Refinancing of HousingLoans (Senegal);

Line of Credit to la Banque Malienne de•Solidarité to Enhance Medium Term Loans (Mali).

PROSPECTS

EBID has enhanced its internal administrative andfinancial management especially within theframework of reforms that started in 2007 andhave produced encouraging results in terms of costcontrol, efficient organization of work and theincreasing volume of activities.

After sixteen (16) years of activity (2004 – 2019),the Bank’s net commitments have increased 9.03times over from UA121 million in January 2004 toUA1.095 billion at the end of December 2019 inrespect of 133 active projects.

From the inception of the institution (ECOWASFund) to 31 December 2019, the net assistancefrom EBID to Members States amounted toUA1.617 billion representing US$2.220 billiondollars or FCFA1 309 billion in respect of 240projects from various sectors.

In line with its mission, EBID continues to givepriority to the financing of infrastructure in allsectors especially, electricity interconnection works,the construction of inter-State highways, portdevelopment or procurement of harbor equipment,opening up of rural areas, the development ofdigital coverage which accounts for approximately61.2% of the Bank’s net commitments.



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0

200

400

600

800

1000

201820172016201520142013201220112010200920082007200620052004

121

146 187 286 385 519 551 619 696 764 875 928

993

918

914

Distribution of Net Commitments of EBID between2004 and 2019 (in million UA)



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IndustryServices

Social

RuralDevelopment

9.7%

Infrastructure62.2%

18%

5.4%

4.7%

Distribution of Net Commitments by Sector as at31t December 2019

The graph below shows that all ECOWAS Member States received financing from EBID.



EBID IN BRIEF 15



0

5

10

15

20

BENI

N 1

6 %

BURK

INA

FASO

6

%

CABO

VER

DE 1

.7 %

CÔTE

D’IV

OIRE

11

.5 %

GAM

BIA,

THE

2.

5 %

GHAN

A 1

1.6

%

GUIN

EA

9.2

%

GUIN

EA-B

ISSA

U 0

.3 %

LIBE

RIA

1.7

%

MAL

I 1

2 %

NIGE

R 3

.3 %

NIGE

RIA

4 %

SENE

GAL

5.9

%

SIER

RA L

EONE

4.8

%

TOGO

9.9

%

Distribution of Net Commitments by Member Stateas at 31 December 2019 (in %)



EBID IN BRIEF 16



At the external level, the Bank took severalinitiatives to diversify its shareholder base andfurther mobilize adequate resources to finance itsactivities. In this regard, from 1 January 2004 todate, EBID has mobilized more than 1.75 billion USdollars from financial partners and financialmarkets in the sub region.

SOME EBID PARTNERS

West African Economic and Monetary Union•(WAEMU) Market;

AFREXIMBANK, Egypt;•

Banque Marocaine du Commerce Exterieur•(BMCE) Morocco;

OPEC Funds for International Development•(OFID), Austria;

Industrial Development Corporation (IDC),•South Africa;

Arab Bank for Economic Development in Africa•(BADEA), Sudan;

Government of India;•

Islamic Bank of Development (IsDB), Saudi•Arabia.



Administraion &General Sces Dept

General AccountingDivision

Budget & Management

Control Division

Treasury Div.

IT, Organization& Methods Dept

InformationTechnology Div.

Organization andMethods Div.

Finance & Accounting Dept

Treasury & RessourceMobilization Dept. Legal Dept.

Environment Unit

Public SectorOperations Dept

Private SectorOperations Dept

Board of Directors

President of EBID

Special Advisers and Assistants

Secretary General

Dept. of Conference

Internal Audit and Norms Div.

Evaluation of Operations Div.

Operational Risks & Int. Control Div.

Financial Risks Management Div.

Loan Administration Mon. & Rec.Div.

RessourceMobilization Div.

Special funds & Equity

Management Div.

Board of Governors

Communications & External Relations Unit

Internal Audit and Operations Evaluation Dept

Risks Management Dept.

Operational Risks & Int. Control Div.

Macrœeconomic Forecasting & Decelopment Impact Div.

Research and strategic planning Dept

Human Resources Div.

General Services &

Assets Mgt Div.

Legal / ComplianceDivision

Litigations Division

Financial Engineering and SMEs Division

Modern Infrastructureand Services Division

Industry and Energy Division

Trade Finance

Board Secretariat & Protocol Division

Language Services Division

Agriculture & Développement Rural

Basic Infrastructure Div.

Social Sector Division

Vice-President OperationsVice-President Finance & Corporate Services

EBID IN BRIEF 17



ORGANIZATIONAL CHART OF EBID



the ecowas bank ebid in brief

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