{"id":468968,"date":"2020-11-12T13:19:48","date_gmt":"2020-11-12T12:19:48","guid":{"rendered":"https:\/\/www.kapitalafrik.com\/?p=468968"},"modified":"2020-11-12T13:19:48","modified_gmt":"2020-11-12T12:19:48","slug":"ebid-obtains-two-lines-of-credit-of-e-95-million-from-german-aka","status":"publish","type":"post","link":"https:\/\/www.financialafrik.com\/en\/2020\/11\/12\/ebid-obtains-two-lines-of-credit-of-e-95-million-from-german-aka\/","title":{"rendered":"EBID obtains two lines of credit of \u20ac 95 million from German AKA"},"content":{"rendered":"<div class=\"pdfprnt-buttons pdfprnt-buttons-post pdfprnt-top-bottom-left\"><\/div><p><strong>The ECOWAS Investment and Development Bank (EBID) has secured two lines of credit worth 95 million euros from the banking consortium AKA Ausfuhrkredit-Gesellschaft mbH (AKA). Thus, George Agyekum Donkor, President of EBID and Marck WENGRZIK, Managing Director (CEO) of AKA, ratified the agreement via a symbolic virtual conference on Thursday, November 12, 2020. This unprecedented loan agreement marks the start of the agreement. a mutually beneficial partnership between bIDC and AKA.<\/strong><\/p>\n<p>The loan agreement includes a credit line in the amount of 45 million euros for a period of ten years and a one-year revolving credit line of 50 million euros. The purpose of these substantial credit facilities will be to finance projects under the export contract between the West African Fertilizer Association (WAFA) and Ferrostaal Equipment Solutions GmbH. The credit facilities will be used to build warehouses and factories, as well as to purchase fertilizers and farm equipment. The signing of the loan agreement is an important step for both institutions as it marks the start of bilateral cooperation in the financing of key import projects in the green finance sector as well as in hydropower, solar and wind.<\/p>\n<p>This collaboration between West Africa and Europe was designed not only to boost trade between the two regions, but also to provide endless opportunities for job creation, skills and technology transfer. Also present at the conference were the Vice-Presidents of WAFA, Mr. Bakayoko Zoumana, and Mr. Innocent Okuku, the Commissioner for Agriculture of ECOWAS, Mr. Sangar\u00e9, and the Director General of Ferrostaal Equipment Solutions GmbH, Dr. Manuel Probst. The new partnership between EBID and AKA will undoubtedly help to intensify and accelerate EBID intervention in ECOWAS agro-industry and improve food security in the sub-region.<\/p>\n<div class=\"pdfprnt-buttons pdfprnt-buttons-post pdfprnt-top-bottom-left\"><\/div>","protected":false},"excerpt":{"rendered":"<p>The ECOWAS Investment and Development Bank (EBID) has secured two lines of credit worth 95 million euros from the banking consortium AKA Ausfuhrkredit-Gesellschaft mbH (AKA). Thus, George Agyekum Donkor, President of EBID and Marck WENGRZIK, Managing Director (CEO) of AKA, ratified the agreement via a symbolic virtual conference on Thursday, November 12, 2020. This unprecedented<\/p>\n","protected":false},"author":536282,"featured_media":468969,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"aside","meta":{"pmpro_default_level":"","jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"translated_post_url_fr":"","_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[12591,12040,12046],"tags":[15244,16741,16740],"class_list":{"0":"post-468968","1":"post","2":"type-post","3":"status-publish","4":"format-aside","5":"has-post-thumbnail","7":"category-feature","8":"category-international-institutions","9":"category-leaders-en","10":"tag-ebid","11":"tag-german-aka","12":"tag-two-lines-of-credit","13":"post_format-post-format-aside","14":"pmpro-has-access"},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v21.5 (Yoast SEO v27.5) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>EBID obtains two lines of credit of \u20ac 95 million from German AKA - Financial Afrik<\/title>\n<meta name=\"description\" content=\"Headed by Adama Wade and his team of 20 journalists, Kapital Afrik offers strategic and financial information to executives and managers. The aim of Kapital Afrik is to provide financial and political news, give priority to human entrepreneurial experiences, lend life to economic policies, givemeaning to statistics. Our \u201cexaggerated pretensions\u201d inspire us. We will strive, and gradually, to conceive, comfort and reach them. Three versions, three approaches and a global vision. The website is constantly on the news. The newsletter relays information every morning to executives, bankers, university financiers, students. The monthly edition analyzes the information and explains the setbacks. A single credo initiates our journalistic approach: information = actors, facts = a pluralistic vision. 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We will strive, and gradually, to conceive, comfort and reach them. Three versions, three approaches and a global vision. The website is constantly on the news. The newsletter relays information every morning to executives, bankers, university financiers, students. The monthly edition analyzes the information and explains the setbacks. A single credo initiates our journalistic approach: information = actors, facts = a pluralistic vision. 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