On October 2, 2025, the ECOWAS Bank for Investment and Development (EBID) allocated $308.6 million for projects in clean energy, agriculture, and trade.
The decision was made at its 93rd meeting in Lomé, Togo.
Regional Growth Plan
EBID President Dr. George Agyekum Donkor said the funds will drive sustainable development, strengthen regional ties, and diversify West Africa’s economies.
Solar Power Boost
A $98.2 million project will build a 50 MW solar plant in Taraba State, Nigeria. It aims to deliver clean power, reduce energy poverty, and support sustainability.
The plant will serve 390,000 homes, enhance reliability for 200 public facilities, create 400 construction jobs, 50 permanent roles, and 1,200–1,500 indirect jobs.
Rice Farming Expansion
EBID approved $79.2 million for a rice processing unit and a 10,000-hectare irrigated farm in Taraba State. This will improve food security and grow agriculture.
Industrial Park Project
A $91.2 million investment will create an industrial park in Taraba State, fostering local industries and economic diversity with a modern hub.
Trade Support in Guinea
A $40 million credit line to Vista Bank in Guinea will fund import-export activities and strengthen supply chains, boosting regional commerce.
Why It Matters
These projects support ECOWAS goals of job creation, better energy access, and economic progress, uplifting communities across West Africa.
Next Steps
In October 2025, EBID will start these initiatives, aiming for measurable impacts in jobs, energy, and regional unity.
Armenian Dram
Ghana Cedi
Gambian Dalasi
Guinea Franc
Nigerian Naira
CFA Franc BEAC
