# West African financial and development updates

> Live situation record from CLSTR: https://clstr.news/situations/west-african-financial-and-development-updates
> Updated: 2026-09-03T02:46:21.000Z. Sources: 18. Developments: 3.

The ECOWAS Bank for Investment and Development (EBID) has seen its long-term issuer rating upgraded by Moody’s from B2 to B1 with a stable outlook. The agency noted the Lomé-based institution’s strong solvency, adequate capitalization, and resilient asset quality. This upgrade supports EBID’s 2026–2030 Growth, Resilience and Optimisation (GRO) Strategy, which aims to improve access to international capital markets to fund infrastructure, clean energy, and private sector development. EBID has recently approved over US$510 million in new projects across Guinea, Ghana, and Sierra Leone.

To strengthen its institutional framework, EBID member states adopted new orientations during an extraordinary general assembly on July 30, 2026. These reforms focus on governance, financial discipline among shareholders, and resource mobilization. Notably, reforms aim to link a state’s eligibility for high-level institutional roles to its fulfillment of financial obligations to the bank. Additionally, on September 2, 2026, EBID signed a CFAF 10-billion financing agreement with the Banque de l'Habitat de Côte d'Ivoire (BHCI) to support housing finance and SME access within Côte d'Ivoire’s real estate sector.

In regional financial activity, Burkina Faso’s Diaspora Bonds, which raised 151.5 billion FCFA to fund strategic infrastructure, were scheduled for listing on the Regional Securities Exchange (BRVM) on September 3, 2026. The bonds consist of two tranches with interest rates of 6.75% and 6.85%.

## Timeline

### 2026-09-03: ECOWAS Bank for Investment and Development advances reforms and regional financing

The ECOWAS Bank for Investment and Development is implementing governance reforms and has provided CFAF 10 billion to Côte d'Ivoire's BHCI to boost housing finance and SME support.

3 sources. https://clstr.news/cluster/ecowas-bank-for-investment-and-development-advances-reforms-and-regional-financing

### 2026-08-26: West African financial developments: BIDC rating upgrade and Burkina Faso bond listing

Moody's upgraded the ECOWAS Development Bank's rating to B1, while Burkina Faso's 151.5 billion FCFA Diaspora Bonds prepare for listing on the BRVM.

7 sources. https://clstr.news/cluster/west-african-financial-developments-bidc-rating-upgrade-and-burkina-faso-bond-listing

### 2026-08-19: ECOWAS Bank for Investment and Development upgraded to B1 by Moody’s

Moody’s upgraded the ECOWAS Bank for Investment and Development (EBID) from B2 to B1 with a stable outlook, citing strong solvency and asset quality as the bank pursues investment-grade status.

8 sources. https://clstr.news/cluster/ecowas-bank-for-investment-and-development-upgraded-to-b1-by-moodys

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Cite as: West African financial and development updates. CLSTR, https://clstr.news/situations/west-african-financial-and-development-updates