The European Bank for Reconstruction and Development (EBRD) has inaugurated its first trade finance facility in Senegal, providing €15 million to Ecobank Senegal under its Trade Facilitation Programme.

This initiative would strengthen Senegal’s role as a pivotal gateway to West Africa and enhance regional trade integration within the West African Economic and Monetary Union (WAEMU).

The EBRD Trade Facilitation Programme operates across 28 economies, including more than 130 issuing banks and over 800 partner banks globally.

To date, it has supported over 36,000 transactions with a cumulative volume exceeding €42 billion, underscoring its pivotal role in facilitating international trade.

Importance of Senegal in West African trade

Senegal’s geographic position and membership in WAEMU underpin its critical function in facilitating trade flows across West Africa.

The new trade finance line is likely to strengthen Ecobank Senegal’s ability to assist clients in international trade, improving the country’s import and export activities.

Ecobank Senegal will use a €15 million trade finance facility to issue guarantees to confirming banks.

This would reduce political and commercial payment risks in cross-border transactions, promoting smoother trade operations and building trust among trading partners.

EBRD President Odile Renaud-Basso said, “I am delighted to sign our first trade finance limit in the country with Ecobank Senegal, which we hope will be the start of a long-lasting partnership. This facility will help local businesses access essential goods, strengthen private-sector growth and contribute to the country’s economic resilience.”

Ecobank Senegal’s role and market position

Ecobank Senegal, a leading financial institution in the country and part of the pan-African Ecobank Transnational Incorporated group operating in 35 countries, will leverage this facility to expand its trade finance operations.

Sahid Yallou, Managing Director of Ecobank Senegal, said, “This partnership with the EBRD reflects the confidence placed in Ecobank Senegal and recognises the strength of our market position.”

“This trade finance facility reinforces our unwavering commitment to supporting Senegalese businesses, particularly micro, small, and medium-sized enterprises, which are true engines of our economy. We remain fully committed to facilitating their trade with international markets.”

Senegal became an EBRD shareholder and country of operation in 2025. The Bank’s ongoing work in Senegal will focus on supporting private-sector development, strengthening institutional frameworks, and promoting sustainable and inclusive economic growth.

Beyond the financial provision, Ecobank Senegal will gain access to the EBRD’s extensive network of partner banks. This access will support the execution of trade transactions across a broader range of markets, thereby broadening outreach to small and medium-sized enterprises (SMEs) and enhancing their participation in international trade.