(EBID) - The ECOWAS Bank for Investment and Development (EBID) and the EU-Africa Chamber of Commerce (EUACC) have signed a Memorandum of Understanding (MOU) aimed primarily at resource mobilisation, project financing and technical cooperation for the benefit of ECOWAS Member States.

The MOU, which was signed on June 28, 2024, at the 36^th Annual Session of the Crans Montana Forum, held in Brussels, Belgium, perfectly aligns with the Bank’s vision of an integrated, inclusive, sustainable, and resilient ECOWAS.

EBID seeks to leverage EUACC’s wide network of private sector players, private and institutional investors and experts to fast-track its expansion drive through project development and financing.

With EBID’s knowledge of the ECOWAS region and expertise in financing public and private sector projects within the sub-region, and the EUACC’s wide array of private sector project developers and investors, this partnership is expected to lead to interventions in the financial, clean energy, infrastructure, and manufacturing sectors of the ECOWAS Member States, among others.