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 its improving financial position, resilience and growing role as a development finance institution in West Africa.
In a statement shared by EBID, the Bank said Moody’s had cited its sound solvency, moderate capitalisation and resilient asset quality despite the continued expansion of its lending operations as key factors behind the upgrade.
According to the statement, the rating agency, which published the upgrade on August 14, also highlighted EBID’s efforts to diversify its funding sources and maintain strong shareholder support, including continued paid in capital contributions and strategic partnerships.
A major factor behind the progress the statement said was the African Development Bank’s (AfDB) entry as EBID’s first institutional shareholder, following approval in June 2026. The partnership is expected to strengthen EBID’s capital base and governance while enhancing its capacity to mobilise resources for development projects across West Africa.
“This upgrade is a clear recognition of the progress EBID has made in strengthening its financial foundation and institutional capacity,” the President and Chairman of EBID’s Board of Directors, Dr George Agyekum Donkor, said.
He said the rating affirmed the confidence placed in the Bank by its shareholders, development partners and the international community.
“We are demonstrating that a regional development bank can be both ambitious and resilient, and that West Africa has a credible, effective institution ready to lead its development agenda,” he said.
The upgrade came as EBID implemented its Growth, Resilience and Optimisation (GRO) Strategy 2026 to 2030, a five year plan focused on infrastructure development, renewable energy financing, private sector growth and climate resilience.
Under the strategy, the Bank has intensified its operations in infrastructure, healthcare and energy, with projects aimed at expanding electricity access, creating jobs and supporting sustainable economic growth across the subregion.
The latest rating improvement is expected to strengthen EBID’s standing among international investors and development partners and improve its prospects of accessing international capital markets on increasingly competitive terms.
BY STEPHANIE BIRIKORANG
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