The ECOWAS Bank for Investment and Development (EBID) has approved $266.7 million and XOF30 billion to finance key infrastructure and development projects across Nigeria, The Gambia, Ghana, Senegal, and Côte d’Ivoire.
The approvals were granted at the bank’s 95th Board of Directors meeting, reinforcing its commitment to promoting sustainable and inclusive growth in the region.
In Nigeria, EBID approved $100 million for the Lagos–Calabar Coastal Highway project, a major corridor expected to improve connectivity across nine coastal states, ease traffic congestion, and boost trade.
The bank also approved $91.63 million for transport infrastructure in Bauchi State to modernise road networks, reduce logistics costs, and improve access to essential services, particularly in agricultural areas.
Additionally, $50 million was approved for waste management facilities in Lagos State. The project is expected to expand waste infrastructure, increase recycling rates to 45 percent, generate over 5,000 jobs, produce 60,000 tons of organic compost annually, and reduce public health risks.
In Senegal, EBID approved a XOF20 billion credit facility for BNDE to support small and medium-sized enterprises, agriculture, housing, and job creation, especially for women and youth.
Other approvals include $15 million for a tissue paper manufacturing plant in Ghana, $10.04 million to expand G Farms Ltd.’s operations in The Gambia, and a XOF10 billion credit line to Afriland First Bank Côte d’Ivoire to boost financing for MSMEs and support private sector growth.
Speaking at the meeting, EBID President, Dr. George Donkor, said “the projects demonstrate the bank’s commitment to strengthening economic development across the ECOWAS region.”
He noted that the investments would enhance regional competitiveness, support industrial growth, and promote sustainable development.
AP