ECOWAS Bank Approves €230 Million For West African Projects, Targets SMEs, Infrastructure And Agro-industrial Growth

The Board of Directors of the ECOWAS Bank for Investment and Development (EBID) has approved a combined financing package of €230 million and $10 million to stimulate socio-economic growth and regional development across West Africa.......CONTINUE READING THE ARTICLE FROM THE SOURCE>>>>>

The News Agency of Nigeria reports that this was disclosed in a statement issued by the bank on Tuesday following the conclusion of its 91st Ordinary Board Meeting, held under the chairmanship of Dr. George Agyekum Donkor, President and Chairman of the Board of Directors of EBID.

EBID noted that the newly approved facilities are aligned with the United Nations Sustainable Development Goals (SDGs), especially SDG 9 (Industry, Innovation, and Infrastructure) and SDG 13 (Climate Action). The projects also fall under the bank’s long-term strategy to prioritize investments in sectors that accelerate inclusive growth, promote regional trade, and enhance economic resilience.

The bank emphasized its commitment to sustainable financing and regional transformation.

“With this investment, EBID’s total commitments in the sub-region amount to $4.5 billion,” the statement concluded.

EBID is the financial arm of the Economic Community of West African States (ECOWAS).