Powering Regional Growth: EBID Backs Transformative Infrastructure and Agriculture Initiatives

The ECOWAS Bank for Investment and Development (EBID) has committed $390 million in financing across four key projects spanning energy, mining, transport, and climate-smart agriculture. These approvals, made at the bank’s 101st Ordinary Meeting in Lomé, Togo on September 28, 2026, underscore EBID’s focus on driving economic development through strategic investments.

The largest single investment is a $230 million facility for Azumah Resources Ghana Limited to support the Black Volta Gold Project. This operation aims not only to boost gold production but also to catalyze local value creation and employment opportunities around the mining site, strengthening Ghana’s position in the global gold market.

Complementing this investment, EBID will provide $50 million to Ghanaian company MOSL Limited for petroleum product supply chain support. These two Ghanaian initiatives together account for $280 million of the total financing package.

Looking beyond natural resources, EBID is also backing critical infrastructure projects. A $100 million facility will finance rolling stock and equipment for Phase II of Nigeria’s Kano-Maradi Standard Gauge Railway Project, promising to enhance transport connectivity and facilitate regional trade flows.

The remaining $10 million will fund the pilot phase of the West Africa Initiative for Climate-Smart Agriculture (WAICSA), initially covering Ghana, Senegal, and Togo. This initiative seeks to promote more resilient farming practices while expanding financial access for agricultural businesses.

“These investments align perfectly with our Growth, Resilience, and Optimization Strategy,” said Dr George Agyekum Donkor, President of EBID. “We’re targeting projects that generate tangible economic benefits, strengthen regional value chains, create jobs, and support private sector growth.”

The project approvals reflect broader development priorities across West Africa – addressing needs in natural resources, energy, transport, and agriculture while advancing multiple Sustainable Development Goals including poverty reduction, food security, decent work, infrastructure development, and climate action.