ECOWAS Bank Approves $308M for West African Growth

October 2, 2025

2 minutes read

ECOWAS-Bank

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.


NANTA Slams Airlines for Rejecting Naira in Ticket Sales

Share:
Subscribe
Notify of
guest
0 Comments
Oldest
Newest Most Voted
Inline Feedbacks
View all comments

Related Links

LOOKMAN

Lookman Urges Atalanta to Find Clinical Edge

Nigerian star Ademola Lookman has called on his team, Atalanta, to show greater killer instinct. ...

SUPER EAGLES

Super Eagles Camp Opens in Rabat for World Cup Playoff

The Nigeria Football Federation (NFF) has confirmed the final training details for the Super Eagles. ...

ONUACHU

Nigerian Star Paul Onuachu Leads Goal Charts in Turkey

Following a difficult period last season, Nigerian forward Paul Onuachu has fully regained his sharp ...

Osimhen

Transfer Buzz: Osimhen Pushing Galatasaray to Sign Teammate

Reports emerging from the Italian media suggest that star striker Victor Osimhen is actively urging ...

Features

Countries Aircraft

African Countries with the Largest Military Aircraft Fleets in 2025

Africa’s military aircraft fleets are key for defense, surveillance, and peacekeeping. In 2025, several nations ...

Countries

Top 10 African Countries with Best Salaries in 2025

Africa’s job market is growing fast. In 2025, some countries offer great pay. This list ...

Kanye West

New Documentary Explores Kanye West’s Turbulent Journey

A new documentary, In Whose Name?, directed by Nico Ballesteros, offers an intimate look at ...

japa

Top 9 African Countries Sending Immigrants to the United States

Africa’s influence in the United States continues to expand through immigration. Many individuals from the ...

GOLD_3_6

Top 10 Countries Benefiting from Gold Trading in 2025

Gold trading drives wealth for nations with large reserves. In 2025, countries with significant gold ...

FNB-Stadium

Top 10 Most Expensive Stadiums in Africa for 2025

Africa’s sports infrastructure shines with world-class stadiums built for football, rugby, and major events. These ...

Gold

Top Gold-Producing Countries in Africa for 2025

Africa remains a global leader in gold production, contributing significantly to the world’s supply. In ...

digital-nomad-visa

Top 10 Digital Nomad Visa Countries for 2025

As remote work continues to thrive, digital nomad visas offer professionals the chance to live ...

Latest News

Today in History

In the early 1940s, the FCC assigned television`s Channel 1 to mobile services (like two-way radios in taxis) but did not re-number the other channel assignments.

Exchange Rate Per Dollar

AM Armenian Dram382.7971
GH Ghana Cedi10.8803
GM Gambian Dalasi72.5
GN Guinea Franc8,680.62
NG Nigerian Naira₦1,446.16
CF CFA Franc BEAC567.0453
30 Oct · CurrencyRate · USD
CurrencyRate.Today
Check: 30 Oct 2025 23:10 UTC
Latest change: 30 Oct 2025 23:00 UTC
API: CurrencyRate
Disclaimers. This plugin or website cannot guarantee the accuracy of the exchange rates displayed. You should confirm current rates before making any transactions that could be affected by changes in the exchange rates.
You can install this WP plugin on your website from the WordPress official website: Exchange Rates🚀

YOUR THOUGHTS

Let us know what you think

Contact the People’s Paper with feedback on stories and how we could make wapress.africa even better!

newsletter image

Stay up to date with the latest from West Africa Press

Editorial feedback and complaints

Contact the public editor with feedback for our journalists, complaints, queries or suggestions about articles on WApress.

Subscribe Newsletter!

Be the first to receive our latest contents and more...

Need help?