The Board of Directors of the ECOWAS Bank for Investment and Development (EBID), at its
89th Ordinary Session, approved investments totalling €61 million and $100 USD million to stimulate the infrastructure, trade and sustainable development sectors in West Africa.
The session was held at the Bank’s headquarters in Lomé, Togo, under the
chairmanship of Dr George Agyekum Donkor, President and Chairman of the Board of
Directors.
Dr Donkor emphasized that the approved investments are in line with the Bank’s mission to
promote sustainable development and regional integration for the ECOWAS sub-region while
driving growth in economic activity.
For the private sector, a USD $100 million line of credit was granted to Access Bank Plc in the Federal Republic of Nigeria to support SMEs to expand operations in the various sectors while for the public sector, three projects totalling EUR €61 million were approved in the Federal Republic of Nigeria to support infrastructure, transport, health and sustainable development.
The approved projects aligned with the United Nations Sustainable Development Goals
(SDGs) as well as the Bank’s Strategic Plan for 2021-2025. These approvals bring EBID’s
total commitments in the ECOWAS region to USD $4.2 billion, of which total commitments inthe Federal Republic of Nigeria amounts to USD$408 million
