Investments worth over USD 390m across the West African region have been approved by the ECOWAS Bank for Investment and Development (EBID).
EBID Board of Directors gave the approval at its 101st Ordinary Meeting held last Monday in Lomé, Republic of Togo.
The approved funds were specifically meant to finance projects in energy, mining, transport and climate-smart agriculture across the West Africa.
In a press release issued by the Communication and External Relations of the organisation, one of the approved key operations was a USD 50 million facility approved for Ghana. The facility was meant for MOSL Limited to support the supply of petroleum products.
Another USD 230 million facility was approved for Ghana for the Azumah Resources Ghana Limited to develop the Black Volta Gold Project, supporting local value creation and economic activity.
The statement added that a USD 100 million facility was approved for Nigeria for the acquisition of rolling stock and operational equipment for Phase II of the Kano-Maradi Standard Gauge Railway Project to strengthen transport links and facilitate trade and mobility.
Also,the EBID Board approved a total of USD 10 million facility for Ghana, Senegal and Togo to support the pilot phase of the West Africa Initiative for Climate-Smart Agriculture (WAICSA), aimed at promoting resilient agricultural practices and expanding access to agricultural finance.
The President and Chairman Of the EBID Board of Directors, Dr. George Agyekum Donkor, explained that the investments reflect EBID’s focus on financing projects with tangible economic and developmental impacts. He noted that the approved operations would support productive activity, strengthen regional value chains, facilitate trade, and create opportunities for private-sector participation and employment.
According to the statement, approved funds would reinforce EBID’s commitment to implementing its Growth, Resilience and Optimisation (GRO) Strategy plan of 2026-2030, advancing key Sustainable Development Goals (SDGs), including SDG 1 (No Poverty), SDG 2 (Zero Hunger), SDG 8 (Decent Work and Economic Growth), SDG 9 (Industry, Innovation and Infrastructure) and SDG 13 (Climate Action).
It added that through strategic investments in agriculture, energy, transport infrastructure, mining, and climate-smart development, EBID would continue to deliver sustainable solutions that strengthen regional integration and improve living conditions for the West African communities.
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