By Ahmed Ahmed
The ECOWAS Bank for Investment and Development (EBID) has approved more than $267 million alongside XOF30 billion in fresh financing to support a spread of infrastructure and industrial projects across West Africa, with Nigeria emerging as a major beneficiary.
The approvals, granted at the bank’s 95th Board session, reflect a broader push to strengthen economic integration, improve infrastructure, and stimulate job creation across member states including Nigeria, Ghana, Senegal, The Gambia, and Côte d’Ivoire.
Nigeria accounts for a significant portion of the funding. A $100 million allocation will support the Lagos–Calabar Coastal Highway, a major transport corridor expected to connect nine coastal states, reduce congestion, and improve the movement of goods and services. The project is also seen as critical to unlocking regional trade flows along the Atlantic corridor.
In addition, $91.63 million has been earmarked for transport infrastructure in Bauchi State, targeting improved road networks that will open up agricultural zones, lower logistics costs, and expand access to markets and essential services. Another $50 million will go into waste management infrastructure in Lagos, with a strong focus on environmental sustainability and job creation.
The Lagos waste project is expected to raise recycling rates to about 45 percent, generate more than 5,000 jobs, and produce roughly 60,000 tonnes of organic compost annually, while addressing public health risks associated with poor waste disposal.
Across the region, the bank’s interventions extend into industrial expansion and financial support for small businesses. In Senegal, a XOF20 billion credit line to BNDE is aimed at boosting financing for small and medium-sized enterprises, agriculture, and housing, with a particular focus on women and youth employment.
Ghana will benefit from a $15 million tissue manufacturing plant, while The Gambia is set to receive $10.04 million to expand agricultural operations. In Côte d’Ivoire, a XOF10 billion facility for Afriland First Bank is designed to strengthen lending to MSMEs and support real sector investments.
President of EBID, Dr. George Donkor, said the financing reflects a deliberate strategy to support projects that create long-term economic value across the region.
“These interventions reflect our ambition to support Member States in structuring value-creating projects that are fully aligned with the Sustainable Development Goals. 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,” he said.
The latest approvals highlight a growing role for regional development finance institutions in bridging funding gaps and accelerating economic transformation, particularly at a time when governments across West Africa are under pressure to deliver growth, jobs, and improved living standards.
