EBID approves USD 390 million for strategic investments across West Africa

The Board of Directors of the ECOWAS Bank for Investment and Development (EBID) held its 101st Ordinary Meeting on 28 September 2026 in Lomé, Republic of Togo. The Board approved four strategic operations totalling USD 390 million to finance projects in energy, mining, transport and climate-smart agriculture across West Africa.

Key approved operations:

Ghana: A USD 50 million facility for MOSL Limited to support the supply of petroleum products. Ghana: A USD 230 million facility for Azumah Resources Ghana Limited to develop the Black Volta Gold Project, supporting local value creation and economic activity. Nigeria: A USD 100 million facility for the acquisition of rolling stock and operational equipment for Phase II of the Kano-Maradi Standard Gauge Railway Project, strengthening transport links and facilitating trade and mobility. Ghana, Senegal and Togo: A USD 10 million facility to support the pilot phase of the West Africa Initiative for Climate-Smart Agriculture (WAICSA), promoting resilient agricultural practices and expanding access to agricultural finance.

Commenting on the approvals, Dr. George Agyekum Donkor, President and Chairman of the Board of Directors of EBID, stated that the investments reflect EBID’s focus on financing projects with tangible economic and developmental impact. He noted that the approved operations would support productive activity, strengthen regional value chains, facilitate trade and create opportunities for private-sector participation and employment.

These approvals reinforce EBID’s commitment to implementing its Growth, Resilience and Optimisation (GRO) Strategy (2026-2030) and advancing key Sustainable Development Goals (SDGs), including SDG 1 (No Poverty), SDG 2 (Zero Hunger), SDG 8 (Decent Work and Economic Growth), SDG 9 (Industry, Innovation and Infrastructure) and SDG 13 (Climate Action).

Through strategic investments in agriculture, energy, transport infrastructure, mining and climate-smart development, EBID continues to deliver sustainable solutions that strengthen regional integration and improve living conditions for West African communities.