The ECOWAS Bank for Investment and Development (EBID) has given the green light to a new round of funding valued at over €174 million and $125 million. These newly sanctioned projects are set to drive economic transformation across member states by focusing on key sectors like education, renewable energy, manufacturing, agriculture, and transport. The funding reflects EBID’s commitment to fostering industrialization and promoting sustainable development in line with the United Nations Sustainable Development Goals.
Among the projects approved is a €50 million initiative in Togo to construct and equip six new vocational training centers, which will prepare youth for high-demand careers. In Côte d’Ivoire, a $25 million project will support the import of essential materials to ease supply bottlenecks in the construction sector. The Republic of Guinea will benefit from two projects: one to modernize agricultural schools and another to build three hydroelectric power stations that will generate 30 MW of clean, reliable electricity for underserved communities.
In Nigeria, a $100 million investment was approved for a strategic section of the Lagos-Calabar coastal motorway. This key transport corridor is designed to improve trade and connect nine states, supporting both national integration and the broader objectives of the African Continental Free Trade Area. These latest commitments bring EBID’s cumulative investments in the ECOWAS region to over $5 billion, solidifying its role as a central player in West Africa’s development.
MEMBER OF
dmg events is a leading organizer of face-to-face events and publisher of information services. Our aim is to create dynamic marketplaces to connect businesses with the right communities to accelerate their growth in today’s rapidly evolving landscape.