At its 93rd session in Lomé, the ECOWAS Bank for Investment and Development (EBID) approved a total of $308.6 million in financing for strategic projects across West Africa. These investments target solar energy in Nigeria, industrial development and rice cultivation in Taraba State, as well as a $40 million line of credit to Vista Bank Guinea to support regional trade.

 

These initiatives reflect a clear desire to boost regional economic integration by strengthening key infrastructure and improving the energy and food resilience of Member States. The focus is on projects that combine economic growth with social impact, including the creation of thousands of direct and indirect jobs.

 

Solar energy in Nigeria is receiving significant attention due to its potential to reduce dependence on fossil fuels and provide reliable electricity to rural areas. In Taraba State, investments in industrialization and rice cultivation aim to boost local production, create integrated value chains, and strengthen food security.

 

The credit line granted to Vista Bank Guinea represents a lever to stimulate trade and access to finance in a context where the private sector plays a key role in regional development. All of these projects illustrate EBID's approach, which combines strategic investment and sustainable development to consolidate West African integration.

 

Furthermore, the EBID emphasizes the importance of technical support and coordination with governments and local stakeholders. Each project is designed to integrate training, skills transfer, and institutional strengthening programs to ensure effective and sustainable implementation. This dimension strengthens the long-term impact of investments and helps create a regional ecosystem capable of supporting growth and innovation.