{"id":480159,"date":"2024-10-16T12:33:13","date_gmt":"2024-10-16T12:33:13","guid":{"rendered":"https:\/\/www.kapitalafrik.com\/?p=480159"},"modified":"2024-10-16T12:33:17","modified_gmt":"2024-10-16T12:33:17","slug":"the-ecowas-bank-for-investment-and-development-ebid-extends-euros-20-million-to-support-smes-smis-in-guinea","status":"publish","type":"post","link":"https:\/\/www.financialafrik.com\/en\/2024\/10\/16\/the-ecowas-bank-for-investment-and-development-ebid-extends-euros-20-million-to-support-smes-smis-in-guinea\/","title":{"rendered":"The ECOWAS Bank for Investment and Development (EBID) extends Euros 20 Million to support SMEs\/SMIs in Guinea"},"content":{"rendered":"<div class=\"pdfprnt-buttons pdfprnt-buttons-post pdfprnt-top-bottom-left\"><\/div>\n<p class=\"wp-block-paragraph\"><strong>Lom\u00e9, October 15, 2024<\/strong> &#8211; The President and Chairman of the Board of Directors of the ECOWAS Bank for Investment and Development (EBID), Dr George Agyekum Donkor, signed a loan agreement granting a line of credit in the amount of EUR 20 million to the Bank of Commerce and Industry of Guinea (BCI Guin\u00e9e).<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">This loan facility will be used to finance small and medium-sized enterprises and industries (SMEs and SMIs) in the Republic of Guinea to contribute to the development of entrepreneurship and the promotion of SMEs\/SMIs, particularly in the agricultural value chain and related sectors of activity, with at least 15% of the financing being earmarked for businesses run or led by women.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">In his speech, Dr Donkor emphasised that SMEs and SMIs are the backbone of the regional economy and play a key role in meeting market needs while creating jobs, making it crucial to support their activities. He also highlighted the importance of developing a more robust agricultural sector, to tackle the issue of food security which continues to plague the sub-region while building a regional value chain to stimulate economic growth.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">In response, BCI Guin\u00e9e, represented by its Director General and Board Director, Mr. Sidy Mohamed Cherif, pledged to deploy the resources efficiently to ensure wealth creation for the benefit of the&nbsp;people of Guinea.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">With this investment, EBID has invested a total of USD 222.8 Million in both the public and private sectors of the Republic of Guinea. In the sub-region, the Bank\u2019s commitment stands at about USD 4.2 billion and is poised to grow as EBID continues to finance projects in key sectors to fast-track socio-economic development, in line with the Bank\u2019s mandate.<\/p>\n<div class=\"pdfprnt-buttons pdfprnt-buttons-post pdfprnt-top-bottom-left\"><\/div>","protected":false},"excerpt":{"rendered":"<p>Lom\u00e9, October 15, 2024 &#8211; The President and Chairman of the Board of Directors of the ECOWAS Bank for Investment and Development (EBID), Dr George Agyekum Donkor, signed a loan agreement granting a line of credit in the amount of EUR 20 million to the Bank of Commerce and Industry of Guinea (BCI Guin\u00e9e). This<\/p>\n","protected":false},"author":527180,"featured_media":480160,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"aside","meta":{"pmpro_default_level":"","_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_feature_clip_id":0,"_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},"jetpack_post_was_ever_published":false},"categories":[12065],"tags":[],"class_list":["post-480159","post","type-post","status-publish","format-aside","has-post-thumbnail","category-press-releases","post_format-post-format-aside","pmpro-has-access"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v21.5 (Yoast SEO v27.8) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>The ECOWAS Bank for Investment and Development (EBID) extends Euros 20 Million to support SMEs\/SMIs in Guinea - 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. 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