The Ecobank Group and the European Investment Bank (EIB) signed a financing agreement on Wednesday, November 24, 2021. Covering 9 years, this long-term credit facility is 65.46 billion CFA francs.

The new cooperation agreement between the Pan-African Banking Group and the European Investment Bank was officially concluded at the EU Delegation to Togo in Lomé, in the presence of Koen Doens, Director General of International Partnerships of the Commission of the European Union (INTPA). This facility demonstrates the willingness of the Pan-African Banking Group and the EIB to support business investment in Africa, particularly in the sectors most affected by the COVID-19 pandemic. The funds will be disbursed through Ecobank subsidiaries for investment projects carried out by private sector companies.

The EIB has made this facility available through its COVID-19 Rapid Response Initiative, for private sector companies active in selected productive sectors and employing fewer than 3,000 people. The loan will also be accompanied by technical assistance under the EIB's African Women Rising Initiative (AWRI) programme, which provides training on financing for women and building the capacity to lend to women entrepreneurs, in perfect harmony with Ecobank's Ellever initiative supporting women-focused businesses across the continent.