ECOWAS Bank Approves $390m For Strategic Investments Across West Africa

The Board of Directors of the ECOWAS Bank for Investment and Development (EBID), has approved four strategic operations totalling $390 million to finance projects in energy, mining, transport and climate-smart agriculture across West Africa.

The approvals were made at its 101st Ordinary Meeting held on September 28, 2026 in Lomé, Republic of Togo.

Key approved operations include a $50 million facility for MOSL Limited in Ghana to support the supply of petroleum products, and a $230 million facility for Azumah Resources Ghana Limited to develop the Black Volta Gold Project, supporting local value creation and economic activity.

The Board also approved a $100 million facility for Nigeria for the acquisition of rolling stock and operational equipment for Phase II of the Kano-Maradi Standard Gauge Railway Project, aimed at strengthening transport links and facilitating trade and mobility.

In addition, a $10 million facility was approved to support the pilot phase of the West Africa Initiative for Climate-Smart Agriculture, WAICSA, covering Ghana, Senegal and Togo, to promote resilient agricultural practices and expand access to agricultural finance.

Speaking on the approvals, president and chairman of the Board of Directors of EBID, Dr George Donkor said the investments reflect the Bank’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.

According to EBID, the approvals reinforce its 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 said it continues to deliver sustainable solutions that strengthen regional integration and improve living conditions for West African communities.