The ECOWAS Bank for Investment and Development (EBID) has approved a total of $266.7 million alongside XOF30 billion to finance key infrastructure and development projects in Nigeria, Ghana, Senegal, The Gambia, and Côte d’Ivoire.The funding approvals were granted during the bank’s 95th Board of Directors meeting, reaffirming EBID’s commitment to promoting sustainable, inclusive, and resilient development across the sub-region.A major highlight of the approvals is the $100 million allocated for the construction of the Lagos–Calabar Coastal Highway in Nigeria. The project, which cuts across nine coastal states, is expected to improve connectivity, reduce congestion, boost logistics efficiency, and enhance regional trade.In addition, the bank approved $91.63 million for transport infrastructure development in Bauchi State, as well as $50 million for waste management projects in Lagos State.EBID noted that the Bauchi project aligns with Nigeria’s National Development Plan and is designed to modernise road networks, lower transportation costs, expand access to essential services, and unlock agricultural potential while incorporating climate-resilient construction methods.The Lagos waste management initiative is projected to significantly expand the state’s waste processing capacity, raise recycling rates to 45 percent, generate more than 5,000 jobs, produce about 60,000 tonnes of organic compost annually, and mitigate public health risks.Elsewhere, the bank approved a credit facility of XOF20 billion for Senegal’s BNDE to boost financing for small and medium-scale enterprises, support agricultural value chains, improve housing access, and promote job creation, particularly for women and youth.Other projects include a $15 million tissue paper manufacturing plant in Ghana, $10.04 million for the expansion of G Farms Ltd. in The Gambia, and a XOF10 billion credit line to Afriland First Bank in Côte d’Ivoire to strengthen financing for MSMEs and the real sector.Speaking at the meeting, EBID President, George Agyekum Donkor, said the approvals reflect the bank’s strategic focus on fostering long-term economic growth and resilience across the region.According to him, the investments are aligned with the Sustainable Development Goals and are targeted at strengthening infrastructure, agro-industry, environmental sustainability, and industrial transformation.He added that the range of projects demonstrates EBID’s capacity to drive impactful regional initiatives and support inclusive economic development across its member states.
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