ECOWAS Bank approves $166.9 million investment to boost infrastructure, trade and development in West Africa

The ECOWAS Bank for Investment and Development (EBID) has approved investments totaling EUR 61 million and USD 100 million (approximately $166.9 million) to enhance infrastructure, trade, and sustainable development in West Africa.

During its 89th Ordinary Session on October 1, 2024, the Board, led by Dr. George Agyekum Donkor, approved a USD 100 million line of credit to Access Bank Plc in Nigeria to support small and medium-sized enterprises.

Additionally, three public sector projects in Nigeria totaling EUR 61 million were approved, aligning with the UN Sustainable Development Goals. EBID’s total commitments in the region now reach USD 4.2 billion.