Ecobank, BOAD, Proparco partner to channel up to 500 mln euros into African private sector, agriculture

Finance

Tuesday, 12 May 2026 11:31

Ecobank, BOAD, Proparco partner to channel up to 500 mln euros into African private sector, agriculture

(Togo First) - The West African Development Bank (BOAD) and Ecobank Group, both based in Lomé, separately announced agreements with Proparco, a subsidiary of the French Development Agency (AFD), on Monday. The deals were unveiled by the French institution in Nairobi on the sidelines of the Africa Forward summit.

BOAD and Proparco

The first agreement, signed between BOAD and Proparco, covers a dual-currency financing arrangement worth 200 million euros, or about 131 billion CFA francs. Structured in euros and CFA francs, the deal aims to expand local-currency financing for businesses in the West African Economic and Monetary Union (UEMOA) zone.

Proparco Chief Executive Françoise Lombard said the agreement should help mobilize more local-currency financing for the private sector and local economies.

BOAD President Serge Ekué said the transaction would help direct more funding to projects with strong economic and social impact in Africa.

Ecobank and Proparco

Separately, Ecobank and Proparco signed a memorandum of understanding to mobilize up to 300 million euros over three years for African agricultural value chains.

The partnership includes credit guarantees, risk-sharing mechanisms and trade-financing facilities for the agricultural sector across the 33 African countries where Ecobank operates. Part of the funding will also be directed toward agro-industrial small and medium-sized enterprises and agricultural commodity traders.

The agreement also includes support for Ecobank's "Ellever" program, which targets women entrepreneurs in Côte d'Ivoire, Ghana and Kenya.

"This is capital being put to work in the real economy, financing food production, livelihoods and local value creation," Ecobank Group Chief Executive Jeremy Awori said.

Ayi Renaud Dossavi

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