AFDB and EBID inks $950,000 grant accord
The African Development Bank (AfDB) and the Investment and Development Bank of the Economic Community of West African States (EBID) signed today a grant agreement amounting to US $950,000 to strengthen the EBID institutional capacities. The signing ceremony, held during the inauguration of the AfDB national office in Togo, was chaired by Serge N’Guessan, AfDB Resident Representative in Togo, and Bashir Ifo, EBID President. This grant, provided from the Fund for African Private Sector Assistance (FAPA), funded by the Government of Japan, the AfDB, the Austrian Development Bank and the Government of Austria, will finance a technical assistance program allowing EBID to implement its private sector operations strategy and processes, to reinforce its human capital and increase its resources mobilization. This grant is part of a large technical assistance program funded jointly with the French Development Agency (AFD) who provided a €500,000 to EBID in 2011 to improve its financial and risk management framework.