By Seun Ibiyemi
The ECOWAS Bank for Investment and Development (EBID) has approved a total of $266.7 million and XOF 30 billion to finance a range of strategic development projects across West Africa, reinforcing its commitment to sustainable and inclusive growth in the region.
The approvals were granted during the bank’s 95th Board of Directors meeting held on March 30, 2026, targeting projects in Nigeria, Senegal, Ghana, The Gambia, and Côte d’Ivoire.
President and Chairman of the Board of Directors, George Agyekum Donkor, said the investments reflect the bank’s ambition to support member states in delivering value-driven projects aligned with the Sustainable Development Goals (SDGs).
“These interventions reflect our ambition to support Member States in structuring value-creating projects that are fully aligned with the Sustainable Development Goals,” Donkor said, adding that the focus areas include infrastructure, agro-industry, environmental management, and industrial transformation.
In Nigeria, EBID allocated $50 million for the construction of waste management facilities in Lagos under a public-private partnership arrangement.
The project is expected to boost recycling rates to 45 percent, generate over 5,000 jobs, produce 60,000 tonnes of organic compost annually, and reduce public health risks.
Another $91.63 million was approved for transport infrastructure development in Bauchi State to modernise road networks, reduce logistics costs, and improve access to essential services, particularly in agricultural zones.
Additionally, the bank committed $100 million to the Lagos–Calabar Coastal Highway project, a major corridor expected to enhance connectivity across nine coastal states, ease congestion, and stimulate regional trade.
In Senegal, EBID approved XOF 20 billion as a credit line to BNDE to strengthen financing for small and medium-sized enterprises (SMEs), agriculture, housing, and employment, especially for women and youth.
Ghana will benefit from a $15 million investment to establish a tissue paper manufacturing plant with a daily production capacity of 65 tonnes, aimed at reducing import dependence and supporting industrialisation.
In The Gambia, $10.04 million will go toward expanding G Farms Ltd.’s poultry and dairy operations to improve food security and reduce reliance on imports.
Meanwhile, Côte d’Ivoire will receive XOF 10 billion in credit support for Afriland First Bank to enhance financing for micro, small and medium enterprises (MSMEs) and stimulate private sector growth.
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EBID said the diverse portfolio highlights its role in catalysing high-impact regional initiatives and strengthening economic resilience across the Economic Community of West African States (ECOWAS).
The bank reiterated its commitment to financing projects that enhance competitiveness, promote inclusive growth, and drive long-term development across the sub-region.
