EBID Approves $390 Million for Strategic Projects Across West Africa

The ECOWAS Bank for Investment and Development (EBID) has approved $390 million in financing for strategic projects spanning mining, energy, transport and climate-smart agriculture across West Africa.

The approvals were made at EBID’s 101st Ordinary Meeting in Lomé, Togo, on 28 September 2026, with projects covering Ghana, Nigeria, Senegal and Togo.

The largest allocation is a $230 million facility for Azumah Resources Ghana Limited to support development of the Black Volta Gold Project. The financing is expected to contribute to local economic activity and value creation while supporting Ghana’s mining sector.

EBID has also approved $50 million for Ghanaian company MOSL Limited to finance the supply of petroleum products. The two Ghana projects account for $280 million of the total financing package.

In Nigeria, $100 million will support the acquisition of rolling stock and operational equipment for Phase II of the Kano-Maradi Standard Gauge Railway Project. The investment is expected to improve transport connectivity and facilitate the movement of people and goods, with potential benefits for regional trade.

The remaining $10 million will finance the pilot phase of the West Africa Initiative for Climate-Smart Agriculture (WAICSA), covering Ghana, Senegal and Togo. The programme aims to promote climate-resilient farming practices while improving access to agricultural finance.

EBID President and Chairman of the Board of Directors, Dr George Agyekum Donkor, said the projects reflect the bank’s focus on investments capable of delivering economic and developmental benefits.

The financing is expected to support productive sectors, strengthen regional value chains, facilitate trade and create opportunities for private-sector investment and employment.

The latest approvals form part of EBID’s Growth, Resilience and Optimisation (GRO) Strategy for 2026–2030, which places regional development and economic resilience at the centre of the institution’s financing activities.

The projects also support several Sustainable Development Goals, including poverty reduction, food security, decent work and economic growth, infrastructure development and climate action.

By directing capital towards mining, energy, transport and agriculture, EBID’s latest financing package highlights the importance of regional investment in strengthening productive capacity and improving economic links between West African countries.