Ecobank Group, the West African Development Bank and Proparco have announced separate financing agreements aimed at mobilising up to 500 million euros to support private sector growth and agricultural value chains across Africa.
The agreements were unveiled by the French development finance institution Proparco during the Africa Forward summit in Nairobi, where it formalised partnerships with both BOAD and Ecobank Group to strengthen long term financing across West Africa and broader African markets.
The first deal involves BOAD and Proparco, structured as a dual currency financing arrangement worth 200 million euros. The facility is designed to expand local currency lending within the West African Economic and Monetary Union, reducing reliance on foreign currency borrowing and improving access to stable financing for businesses in the region.
BOAD President Serge Ekué said the agreement is intended to direct more capital toward projects with strong economic and social impact, particularly in infrastructure, energy, and productive sectors that drive regional development. Proparco leadership emphasised that the structure will help mobilise sustainable financing in local currencies, a key constraint for private sector expansion in West Africa.
In a separate agreement, Ecobank Group and Proparco signed a memorandum of understanding to mobilise up to 300 million euros over a three year period. This facility is focused on agricultural value chains across the 33 African countries where Ecobank operates, targeting farmers, agro industrial small and medium sized enterprises, and commodity traders.
The Ecobank arrangement includes credit guarantees, risk sharing mechanisms, and trade finance instruments designed to reduce financing barriers in agriculture. A portion of the funding will also support Ecobank’s Ellever initiative, which focuses on empowering women entrepreneurs in Côte d’Ivoire, Ghana, and Kenya.
Ecobank Group Chief Executive Jeremy Awori said the initiative channels capital directly into the real economy, supporting food production, livelihoods, and local value creation across African markets.
Agriculture remains one of the most important sectors in Africa, employing a large share of the population while also facing persistent financing gaps. Limited access to credit, currency risks, and underdeveloped financial infrastructure have historically constrained productivity and expansion in the sector.
The combined 500 million euro financing effort reflects a broader trend of development finance institutions and commercial banks partnering to close funding gaps in emerging markets. These blended finance structures are increasingly being used to de risk investments and attract more private capital into sectors considered essential for long term development.
Local currency financing is also a key focus of the BOAD agreement, as businesses in West Africa often face significant exposure to exchange rate volatility when borrowing in euros or dollars. Expanding CFA franc and euro based lending is expected to improve financial stability for borrowers and strengthen regional capital markets.
The initiatives come at a time when African economies are seeking to boost industrialisation, improve food security, and expand private sector participation in key economic sectors. Financial institutions are playing a central role in supporting these goals through structured financing and targeted investment strategies.
If fully implemented, the combined agreements could significantly expand access to credit for thousands of businesses across agriculture and related industries, supporting job creation and economic growth across multiple African markets.
