Lomé, Togo, 29 September 2025 — The Board of Directors of the ECOWAS Bank for Investment and Development (EBID), during its 93rd Ordinary Session convened at the Bank’s headquarters in Lomé, approved a total of USD 308.631 million to catalyse strategic investments in clean energy, industrial development, and sustainable growth across West Africa. The session was presided over by Dr. George Agyekum Donkor, President and Chairman of the Board of Directors.
Dr. Donkor underscored that the newly approved financing will advance strategic public and private sector initiatives aligned with EBID’s mandate to promote sustainable development throughout the ECOWAS region by strengthening regional integration and fostering economic diversification.
The approved facilities will fund the following projects:
- A USD 40 million line of credit for Vista Bank Guinea to bolster trade-related activities, including import-export operations and commercial value chains. This initiative is projected to assist approximately 105 enterprises, generating and sustaining several thousand direct and indirect jobs while making a substantial contribution to inclusive growth and the reduction of unemployment.
- A 50 MW Solar Photovoltaic Power Plant in Taraba State, Nigeria (USD 98.18 million), which will augment the supply of reliable, clean electricity to spur inclusive economic development, alleviate energy poverty, and improve environmental sustainability. Anticipated benefits include direct electricity access for roughly 390,000 individuals, enhanced power reliability for at least 200 public institutions, the creation of 400 direct jobs during construction, and approximately 50 permanent operational roles. An estimated 1,200–1,500 indirect jobs are expected to emerge across supply chains, maintenance services, and small businesses.
- A Modern Rice Processing Complex and 10,000-Hectare Irrigated Rice Production Unit in Taraba State, Nigeria (USD 79.219 million). Designed to elevate production capacity and processing efficiency, this undertaking will strengthen food self-sufficiency, invigorate the agricultural sector, and underpin the State’s broader economic advancement.
- A Taraba State Industrial Park (USD 91.232 million), an initiative conceived to accelerate local industrialisation and economic diversification through the establishment of a modern, integrated industrial ecosystem.
These approvals are closely aligned with the United Nations Sustainable Development Goals (SDGs), directly advancing SDG 2: Zero Hunger, SDG 7: Affordable and Clean Energy, SDG 8: Decent Work and Economic Growth, SDG 9: Industry, Innovation and Infrastructure, and SDG 13: Climate Action. Through these new commitments, EBID continues to deepen its developmental footprint across the ECOWAS region.
About EBID
ECOWAS Bank for Investment and Development (EBID) is the Development Finance Institution of the Economic Community of West African States (ECOWAS). Based in Lomé, Togolese Republic, the Bank is committed to financing developmental projects and programmes covering diverse initiatives from infrastructure and basic amenities, rural development and environment, industry, and social services sectors, through its private and public sector windows. EBID intervenes through long, medium, and short-term loans, equity participation, lines of credit, refinancing, financial engineering operations, and related services.
www.bidc-ebid.org
