The board of the ECOWAS Bank for Investment and Development (EBID) has approved a $260 million financing package for the construction of a 123-kilometre section of the Trans-Saharan Highway in Nigeria as part of more than $417 million earmarked for strategic projects across West Africa.
The approval was granted during the bank’s 99th Ordinary Session, chaired by its President, Mr George Donkor, according to a statement issued after the meeting. It was noted that the total financing will support five public and private sector projects spanning infrastructure, healthcare, housing, mining, financial resilience and regional connectivity.
EBID said the approved investments underscore its commitment to funding high-impact projects that drive economic growth, create jobs and improve living standards across the sub-region.
“The projects approved during this 99th Board Session demonstrate EBID’s unwavering commitment to financing development solutions that directly improve the lives of West African citizens.
“From clean energy and transport infrastructure to healthcare, housing and financial sector resilience, these investments will strengthen regional competitiveness and support sustainable and inclusive growth across our community,” said Mr Donkor.
That of Nigeria is to improve connectivity, facilitate trade, reduce logistics costs and support economic integration; West African CFA franc (XOF) 10 billion in a line of credit to Banque de l’Habitat de Côte d’Ivoire (BHCI) to expand housing finance and support SMEs operating across the housing and construction value chain; €80 million for the design, construction, equipment and maintenance of the 150-bed Regional Hospital of Ferkessédougou in Côte d’Ivoire under a public-private partnership;
XOF 12.82 billion (West African CFA Franc) for the renovation, operation and maintenance of the Symphonie Building in Abidjan under a public-private partnership and $47.4 million for Azumah Resources Ghana Limited to finance the procurement of long-lead process plant equipment and critical early-stage development activities for the Black Volta Gold Project.
“These approvals advance EBID’s Growth, Resilience and Optimisation (GRO) Strategy, which prioritises transformative infrastructure, human capital development, private sector growth and regional integration. Through these investments, the Bank continues to promote sustainable development and shared prosperity across West Africa,” the statement said.