The ECOWAS Bank for Investment and Development (EBID) has approved fresh investments totalling $266.7 million and XOF 30 billion to finance key development projects across West Africa, reinforcing its commitment to regional economic growth and integration.
XOF is the currency code for the West African CFA franc.
The approvals were granted during the bank’s 95th Board of Directors meeting held on March 30, with projects spanning Nigeria, The Gambia, Ghana, Senegal, and Côte d’Ivoire.
President and Chairman of the Board of Directors, George Agyekum Donkor, said the new financing underscores the institution’s focus on promoting sustainable and inclusive development across member states.
“These interventions reflect our ambition to support Member States in structuring value-creating projects aligned with the Sustainable Development Goals,” Donkor said. “By investing in infrastructure, agro-industry, environmental management, and industrial transformation, we are strengthening the foundation for a more resilient and integrated West African economy.”
In Nigeria, the bank approved $50 million for the construction of waste management facilities in Lagos under a public-private partnership arrangement. The project is expected to significantly expand waste processing capacity, boost recycling rates to 45 percent, and generate over 5,000 jobs, while producing an estimated 60,000 tonnes of organic compost annually.
Another major Nigerian project includes $91.63 million earmarked for transport infrastructure development in Bauchi State. The initiative aims to modernise road networks, reduce logistics costs, and improve access to essential services, particularly in agricultural zones. Climate-resilient construction techniques will also be integrated.
Additionally, EBID committed $100 million to support the construction of the Lagos–Calabar Coastal Highway, a strategic corridor expected to link nine coastal states, enhance trade flows, and ease transportation bottlenecks across southern Nigeria.
In Senegal, the bank approved a credit line of XOF 20 billion to BNDE to boost financing for small and medium-sized enterprises (SMEs), agriculture value chains, and housing. The facility is also expected to promote job creation, especially among women and youth.
Ghana will benefit from a $15 million investment for the establishment of a tissue paper manufacturing plant, designed to produce up to 65 tonnes per day and reduce reliance on imports while supporting industrialisation efforts.
In The Gambia, EBID approved $10.04 million for the expansion of operations at G Farms Ltd., targeting increased poultry and dairy production to strengthen food security and reduce import dependence.
Meanwhile, in Côte d’Ivoire, a XOF 10 billion credit facility was extended to Afriland First Bank Côte d’Ivoire to enhance financing for micro, small and medium-sized enterprises, further supporting private sector development.
Analysts say the spread of investments highlights EBID’s strategic role in catalysing high-impact projects across multiple sectors, including infrastructure, agriculture, industry, and environmental sustainability.
With these new commitments, the bank continues to position itself as a key driver of regional integration and sustainable economic transformation within the Economic Community of West African States.