EBID Signs $5.7m Loan Agreement with PMC Liberia

The ECOWAS Bank for Investment and Development (EBID) represented by the President, Mr. Bashir Mamman IFO, signed a loan agreement to the tune of five million seven hundred thousand dollars ($7.7m) with Premier Milling Corporation (PMC), Liberia, represented by the company’s chief executive officer, Mr. Eliee Saleeby, at the headquarters of the Bank in Lomé.
The loan agreement signed on the 18th of April 2018 is for the replacement and expansion of the company’s flour mill facility located in Monrovia. The project involves the acquisition and installation of a new modern milling plant of two hundred metric tons (200 t/day); and the extension of raw material storage capability from six thousand metric tons (6,000 mt) to about eighteen thousand metric tons (18,000 mt).

Similar loan agreement was signed a day before the current event. It would be recalled that on the 17th of April 2018, the ECOWAS Bank for Investment and Development (EBID) represented by the President, Mr. Bashir Mamman IFO, signed a loan agreement in the amount of four billion francs (FCFA4b) with NADA OIL WEST AFRICA represented by the Managing Director, Mr. Ernest ZAGBO, at the Headquarters of the Bank in Lome.

The loan is for the construction of the company’s fourth (4th) palm oil refinery located in Bonoua, in the Republic of Côte d’Ivoire. The expected daily production capacity of the facility is two hundred metric tons (200t)