ECOWAS Investment Bank gets A+ rating
Ouagadougou, Burkina Faso (PANA) - The ECOWAS Bank for Investment and Development (EBID) has obtained an A+ rating in the 12th peer review of African DFIs with the Performance Standards for Green and Inclusive Recovery Services (PSGRS), the institution announced in a statement on Tuesday.
"This prestigious rating, the first in EBID's history, reflects its commitment to excellence and the promotion of sustainable development in West Africa.
The Association of African Development Finance Institutions (AADFI) Peer Review is a rigorous evaluation process that assesses the performance of African DFIs against the Performance Standards for Green and Inclusive Recovery Services (PSGRS).
The release states that EBID was assessed in key areas such as governance, risk management, financial management and impact assessment, among others.
With an impressive compliance index of 85%, the Bank has demonstrated its strong commitment to the highest standards of performance. The A+ rating awarded to EBID by the AADFI follows closely on the heels of the positive assessment of the Bank's Environmental, Social and Governance (ESG) Finance Framework by ISS Corporate Solutions, both of which attest to the Bank's strong leadership, efficient operations and commitment to sustainable development.
The ECOWAS Bank for Investment and Development (EBID) is a leading regional investment and development bank owned by the 15 member-states of ECOWAS, namely Benin, Burkina Faso, Cape Verde, Côte d'Ivoire, Gambia, Ghana, Guinea, Guinea-Bissau, Liberia, Mali, Niger, Nigeria, Senegal, Sierra Leone and Togo.
Based in Lomé, Togo, the Bank is committed to financing development projects and programmes in the areas of infrastructure and basic amenities, rural development and environment, industry and social services through its private and public sector windows.
-0- PANA TNDD/JSG/SOC/BBA/RA 21March2023
