Pan-African financial institution Ecobank Transnational Incorporated (ETI) would have its banking systems and technology infrastructure developed by two international development institutions with finance from a seven-year $52.6 million loan facility agreement.

As revealed in a statement by the bank’s spokesman, Ouedraogo Nabi Souleymane, in Abuja on Wednesday, the agreement was signed by Ecobank, PROPARCO, the subsidiary of the French Development Agency dedicated to financing the private sector and the Belgian Investment Company for Developing Countries (BIO) on June 29, in Lome, Togo.

According to the statement made available to BusinessDay, the loan would serve 9 million retail,local corporate, public sectors and microfinance customers through the bank’s 1,180 branches; 1,632 Automated Teller Machines; and 2,744 Point of Sales.

The bank’s Chief Executive Officer, Arnold Ekpeas said the investment is a demonstration of Ecobank’s ongoing commitment to enriching the bank’s customer experience through investments in systems, technology and processes.

Ecobank is a leading financial institution in Africa with presence and operations in 32 countries across the African continent. The Group also has international presence in Dubai, China, United Kingdom and France.