ECOWAS Bank Approves $267m for Projects in Nigeria, Ghana, Others

The ECOWAS Bank for Investment and Development (EBID) has approved $266.7 million, alongside XOF 30 billion, to support strategic infrastructure projects across Nigeria, The Gambia, Ghana, Senegal, and Côte d’Ivoire, with a focus on climate resilience, sustainable development, and waste management.

The approvals, granted at the 95th Session of the Board of Directors of the regional bank, underscored the bank’s continued commitment to advancing sustainable, inclusive, and resilient development in the region.

In Bauchi State, $91.63 million will modernise transport infrastructure, reducing logistics costs, improving access to agricultural zones, and incorporating sustainable construction methods designed to withstand extreme weather events.

Lagos State will also benefit from $50 million to expand waste management facilities, a project expected to increase recycling rates to 45 percent, produce 60,000 tons of organic compost annually, create over 5,000 green jobs, and reduce public health risks.

There's also the sum of $100 million approved for the Lagos–Calabar Coastal Highway, a vital corridor spanning nine coastal states.

Other sustainability-linked initiatives include a XOF 20 billion credit line to BNDE in Senegal to support SMEs, strengthen agricultural value chains, and promote green employment for women and youth. In Ghana, a $15 million tissue paper manufacturing plant will adopt environmentally conscious production practices, while in The Gambia, $10.04 million will expand G Farms Ltd.’s operations with sustainable agriculture techniques.

In Côte d’Ivoire, XOF 10 billion will be allocated to Afriland First Bank to finance MSMEs and SMEs, strengthen the bank's capacity to fund the real sector, promote productive investments, and foster job creation and inclusive growth.

Speaking at the meeting, President of the EBID, Dr George Donkor, underscored the transformative reach of the new commitments, saying that the projects reflected EBID's commitment to strengthening the foundations of long-term economic development across the ECOWAS region, enhancing competitiveness and resilience while advancing sustainable and inclusive growth.

"These interventions reflect our ambition to support Member States in structuring value-creating projects that are fully aligned with the Sustainable Development Goals. By investing in infrastructure, agro-industry, environmental management, and industrial transformation, we are strengthening the foundations of a more resilient, inclusive, and integrated growth trajectory within West Africa.

"The diversity of these projects underscores EBID's capacity to catalyse high-impact regional initiatives and support the sustainable transformation of its Member States," Dr Donkor stated.