ECOWAS Bank Okays 5 Investments Worth $510m For Projects In West Africa

The Board of Directors of the ECOWAS Bank for Investment and Development (EBID) has approved five operations valued at more than EUR 269.55 million and USD 200 million, bringing total commitments to over USD 510 million.

The Bank said the funds would support investments in transport infrastructure, healthcare, renewable energy and private-sector development across West Africa.

The approvals were made at EBID’s 100th Board Meeting, chaired by President and Chairman of the Board of Directors, Dr George Agyekum Donkor.

According to a statement from the Bank, the approved operations include EUR 143.06 million for Guinea to construct and pave the 84-kilometre Cissela–Banko–N’Dèma and Banko–Saraya roads, a project expected to improve transport corridors, facilitate trade and reduce transport costs.

The Board also approved EUR 65.87 million for the construction of a 200-bed regional hospital in Siguiri, Guinea, which EBID said would expand access to specialised healthcare services for more than 1.7 million people.

In the energy sector, the Bank approved EUR 60.62 million for the Tinkisso II Hydropower Project in Guinea. The project, with an installed capacity of 11 megawatts and an annual generation capacity of 48 gigawatt-hours, is expected to supply clean electricity to more than 350,000 people.

For Ghana, the Board approved a USD 150 million credit facility for Maripoma Enterprise Limited to support eight strategic road and bridge projects with an estimated portfolio value of approximately USD 1.2 billion. EBID said the projects were designed to enhance connectivity and boost economic activity.

The Board further approved a USD 50 million subordinated loan facility for WAICA Reinsurance Corporation Plc in Sierra Leone. The facility is intended to strengthen the company’s capital base and expand its financing capacity for infrastructure, energy, transport and agriculture, while promoting Environmental, Social and Governance (ESG) standards.

Speaking on the approvals, Dr Donkor said the operations would support transformative investments that strengthen regional connectivity, expand access to essential services, promote sustainable energy and mobilise capital for private-sector development.

He said the initiatives were fully aligned with EBID’s mandate, adding that they reflected the Bank’s commitment to improving the lives of people across West Africa.

The Bank noted that the operations advance the objectives of its Growth, Resilience and Optimisation (GRO) Strategy 2026–2030, which is aimed at accelerating structural transformation across West Africa through catalytic investment.

EBID said that by supporting projects that unlock productive capacity, stimulate private investment and strengthen economic competitiveness, it was helping to lay the foundation for greater economic self-reliance, lasting prosperity and improved living standards in the subregion.

EBID is the Development Finance Institution of the fifteen West African countries under the Economic Community of West African States (ECOWAS). Headquartered in Lomé, Togo, the Bank finances developmental projects across infrastructure, rural development, industry and social services, through both its private and public sector windows, using instruments such as long, medium and short-term loans, equity participation, lines of credit and financial engineering operations.