The ECOWAS Bank for Investment and Development (EBID) has approved $266.7 million for key projects in some West African countries, with $100 million earmarked for the Lagos–Calabar Coastal Highway in Nigeria.
In a statement published on the bank’s website on Friday, the development finance institution indicated that the funding was approval during its 95th Board of Directors meeting held on March 30, 2026.
Apart from the Lagos–Calabar Coastal Highway project in Nigeria, the bank also approved $50 million for the construction of waste management facilities in Lagos for the purposes of improving recycling capacity, creating jobs, and reducing environmental and public health risks.
Similarly, the EBID Board approved $91.63 million for transport infrastructure development in Bauchi State.
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Beyond Nigeria, Senegal got approval for XOF 20 billion as a credit line to support SMEs and industrial growth, while Côte d’Ivoire received XOF 10 billion through Afriland First Bank Côte d’Ivoire to boost financing for small businesses.
The bank also approved $15 million for a tissue paper manufacturing plant in Ghana, to reduce import dependence and support industrialization while Gambia received $10.04 million to expand poultry and dairy operations under G Farms Ltd., aimed at strengthening food security and reducing reliance on imports.
Speaking during the opening session of the board’s meeting, EBID President and Chairman of the Board, George Agyekum Donkor, said the approvals aligned with the bank’s long-term development strategy.
The banker said: “These interventions reflect our ambition to support Member States in structuring value-creating projects that are fully aligned with the Sustainable Development Goals,” he said.
“By investing in infrastructure, agro-industry, environmental management, and industrial transformation, we are strengthening the foundations of a more resilient, inclusive, and integrated growth trajectory within West Africa”, Donkor added.
