EXIM Bank Signs USD 40 Million Credit Line Agreement with ECOWAS Bank for Investment and Development.
Banking & Finance
In August 2025, the Export-Import Bank of India (EXIM Bank) signed a USD 40 million commercial credit line agreement with the ECOWAS Bank for Investment and Development (EBID), the financial institution of the Economic Community of West African States (ECOWAS). This agreement is aimed at strengthening India–Africa economic cooperation and financing infrastructure projects in West Africa.
- The agreement was signed between Dr. George Agyekum Donkor, President and Chairman of the Board of Directors (BoD) of EBID, and Mr. Ashok Kumar Vartia, Chief Executive of the EXIM Bank’s London Branch, United Kingdom (UK). The deal reflects India’s increasing engagement with African development finance institutions.
- The primary objective of this agreement is to provide funding for developmental and infrastructure projects in ECOWAS member states, with significant participation from Indian companies. Areas expected to benefit include renewable energy, healthcare, transport, and industrial capacity building.
- This credit line is strategically important as it will boost South-South Cooperation, opening new trade opportunities for Indian exporters while supporting African countries in achieving sustainable growth. It also reflects India’s broader policy of economic diplomacy in Africa.
Main Point :- (i) India’s partnership with EBID dates back to 2006, when the first line of credit was extended. Over the years, EXIM Bank has provided six different credit facilities to EBID, with a cumulative value of USD 1.14 billion, enabling procurement of Indian goods, machinery, and services by African nations.
(ii) The current agreement further strengthens India’s presence in Africa and builds on the foundation of long-standing bilateral ties. It is expected to enhance mutual trust, expand India’s export footprint, and help ECOWAS nations implement critical development projects with reliable financing from India.
Chairman & MD : Ms. Harsha Bangar
Headquarter : Mumbai
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