{"id":56403,"date":"2023-10-09T17:33:40","date_gmt":"2023-10-09T17:33:40","guid":{"rendered":"https:\/\/www.africa-press.net\/ghana\/?p=56403"},"modified":"2023-10-09T16:53:54","modified_gmt":"2023-10-09T16:53:54","slug":"afdb-ebid-sign-agreement-to-enhance-regional-food-security-in-west-africa","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/ghana\/all-news\/afdb-ebid-sign-agreement-to-enhance-regional-food-security-in-west-africa","title":{"rendered":"AfDB, EBID sign agreement to enhance regional food security in West Africa"},"content":{"rendered":"

Africa-Press – Ghana. <\/strong><\/span>The African Development Bank Group and the ECOWAS Bank for Investment and Development (EBID) have signed an agreement for a dual currency line of credit, comprising $50 million and \u20ac50 million to support local agricultural businesses in West Africa.<\/b><\/p>\n

Dr. George Agyekum Donkor, President and Chairman of the Board of Directors of EBID, and Solomon Quaynor, African Development Bank (AfDB) Vice- President for Private Sector, Infrastructure, and industrialisation, formalised the agreement<\/p>\n

during a signing ceremony at the African Development Bank\u2019s Abidjan headquarters.<\/p>\n

Dr. Donkor said, \u201cThis credit facility illustrates EBID\u2019s continued efforts to mobilise adequate resources to honour its commitment to the region\u2019s transformation agenda through supporting and investing in key sectors, in this case, the agribusiness industry.\u201d<\/p>\n

The AfDB\u2019s Board of Directors approved the dual currency line of credit for EBID early in 2023.<\/p>\n

The Africa Growing Together Fund, (AGTF) managed by the AfDB, will provide an additional $30 million in co-financing. AGTF is sponsored by the People\u2019s Bank of China.<\/p>\n

The three-and-a-half-year facility will enable EBID to offer direct financing to commercial banks and local businesses operating in the agriculture and soft commodity sector within its member states.<\/p>\n

This aligns with EBID\u2019s strategic aim to support local businesses, particularly small and medium-sized enterprises (SMEs), local business cooperatives, and farmers in West Africa.<\/p>\n

The credit lines are expected to strengthen food security, economic growth, and employment generation<\/p>\n

Mr Quaynor said, \u201cThis agreement underscores our strong commitment to harness the continent\u2019s limited resources to deliver, with speed and at scale, quality investments to help address the ever-increasing trade finance gap in Africa while working with strategic regional partners like EBID and \u2013 through you \u2013 local commercial banks.\u201d<\/p>\n

The partnership between EBID and the AfDB demonstrated the increasing cooperation among African Development Finance Institutions to bridge trade finance gaps and direct much-needed funds to economically challenged countries and sectors.<\/p>\n

For More News And Analysis About Ghana<\/a> Follow Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – Ghana. The African Development Bank Group and the ECOWAS Bank for Investment and Development (EBID) have signed an agreement for a dual currency line of credit, comprising $50 million and \u20ac50 million to support local agricultural businesses in West Africa. Dr. George Agyekum Donkor, President and Chairman of the Board of Directors of […]<\/p>\n","protected":false},"author":84,"featured_media":56402,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,5,7,5099],"tags":[5092,5096,429],"class_list":["post-56403","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","category-head-lines","category-to-homepage","tag-africa-press","tag-africa-press-ghana","tag-ghana"],"yoast_head":"\nAfDB, EBID sign agreement to enhance regional food security in West Africa - Ghana<\/title>\n<meta name=\"description\" content=\"The African Development Bank Group and the ECOWAS Bank for Investment and Development (EBID) have signed an agreement ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/ghana\/all-news\/afdb-ebid-sign-agreement-to-enhance-regional-food-security-in-west-africa\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"AfDB, EBID sign agreement to enhance regional food security in West Africa\" \/>\n<meta property=\"og:description\" content=\"The African Development Bank Group and the ECOWAS Bank for Investment and Development (EBID) have signed an agreement ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/ghana\/all-news\/afdb-ebid-sign-agreement-to-enhance-regional-food-security-in-west-africa\" \/>\n<meta property=\"og:site_name\" content=\"Ghana\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/AfricaPressTunisiaa\" \/>\n<meta property=\"article:published_time\" content=\"2023-10-09T17:33:40+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/ghana\/sites\/18\/2023\/10\/sm_1696857583.634815.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1080\" \/>\n\t<meta property=\"og:image:height\" content=\"444\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/ghana\/all-news\/afdb-ebid-sign-agreement-to-enhance-regional-food-security-in-west-africa#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/ghana\/all-news\/afdb-ebid-sign-agreement-to-enhance-regional-food-security-in-west-africa\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/ghana\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"AfDB, EBID sign agreement to enhance regional food security in West Africa\",\"datePublished\":\"2023-10-09T17:33:40+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/ghana\/all-news\/afdb-ebid-sign-agreement-to-enhance-regional-food-security-in-west-africa\"},\"wordCount\":334,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/ghana\/all-news\/afdb-ebid-sign-agreement-to-enhance-regional-food-security-in-west-africa#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/ghana\/sites\/18\/2023\/10\/sm_1696857583.634815.jpg\",\"keywords\":[\"Africa Press\",\"Africa Press-Ghana\",\"ghana\"],\"articleSection\":[\"all news\",\"Economy\",\"head lines\",\"to-homepage\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/ghana\/all-news\/afdb-ebid-sign-agreement-to-enhance-regional-food-security-in-west-africa#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/ghana\/all-news\/afdb-ebid-sign-agreement-to-enhance-regional-food-security-in-west-africa\",\"url\":\"https:\/\/www.africa-press.net\/ghana\/all-news\/afdb-ebid-sign-agreement-to-enhance-regional-food-security-in-west-africa\",\"name\":\"AfDB, EBID sign agreement to enhance regional food security in West Africa - 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