The ECOWAS Bank for Investment and Development, EBID, has disbursed a total of $2.5 billion to support over 300 development projects across the West African sub-region since its inception, according to the bank’s President.
The announcement was made during a high-level meeting attended by economic stakeholders and regional partners. The President of EBID, who made the disclosure, emphasized that the bank has played a critical role in driving infrastructure development, energy projects, agriculture, and social investment initiatives within ECOWAS member states.
“Since its creation, EBID has committed significant financial resources toward projects that are shaping the economic future of West Africa,” he said.
He noted that the bank’s funding has contributed to regional integration, job creation, and poverty alleviation, while also helping member countries address sector-specific challenges.
READ ALSO: ECOWAS, Ecobank empower Nigerian solar business
The EBID president highlighted that disbursement levels have significantly increased in recent years as the bank strengthened its operational capacity and enhanced partnerships with national governments and private sector actors.
“We are proud of the milestones achieved, and we remain committed to deepening our impact in the region,” he added.
The bank, which is the financial arm of ECOWAS, focuses on funding projects that align with the bloc’s vision for a prosperous, interconnected, and resilient West Africa.
As the sub-region continues to grapple with economic recovery and development, EBID’s role is expected to expand, especially in areas of renewable energy, climate resilience, and digital infrastructure.
The president reiterated the institution’s call for increased stakeholder collaboration and encouraged member nations to continue leveraging the bank’s resources to achieve sustainable growth.
NAN
