The ECOWAS Bank for Investment and Development (EBID) has been chosen as the winner of the Financial Institution of the Year – Africa category at the Africa Sustainability Awards by the Advisory Board of the African Sustainability Awards in collaboration with the United Nations Educational, Scientific, and Cultural Organization (UNESCO).
The award was given out at the Accra International Conference in Accra, Ghana, on December 30, 2024.
In accordance with the UN Sustainable Development Goals (SDGs), this award honors EBID’s exceptional commitment to sustainable practices throughout Africa and its advancement of the continent’s environmental, social, and economic development.
In line with its mission of improving access to sustainable financial resources in West Africa, the Bank has to-date committed over USD1 billion to sustainability-driven projects, guided by its Strategy for 2021-25.
The European Investment Bank (EIB) recently extended a line of credit in the amount of EUR 100 million to support climate-friendly and sustainable projects in the ECOWAS sub-region, demonstrating the Bank’s global recognition for its attention to sustainable initiatives.
By releasing its first Environmental, Social, and Governance (ESG) Finance Framework in February 2023, EBID formally committed to sustainability and green finance.
The first installment of the Bank’s educational series, “The President’s Round Table,” with the theme “Greening West Africa,” was held in October 2023. The program, which brought together sustainability and environmental specialists from all over the continent, concentrated on how climate change is affecting West Africa and offered suggestions for climate-responsible economic growth.
In just 48 hours, EBID became the first Development Finance Institution (DFI) to issue a Green, Social, and Sustainable (GSS) Bond on the Bourse Régionale des Valeurs Mobilières (BRVM), the regional financial market for UEMOA. The bond was oversubscribed.
A high-level delegation from the Green Climate Fund (GCF), South Korea, recently visited the Bank to discuss ways to better position the Bank to support the sub-region in this area as part of the Bank’s ongoing efforts to finalize its accreditation to the GCF.
A platform known as the African Sustainability Awards (ASA) recognizes people, groups, companies, non-governmental organizations, and governmental entities that exhibit a strong dedication to sustainable practices.
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