ECOWAS Bank Approves €230m To Boost Infrastructure In West African

The Economic Community of West African States (ECOWAS) Bank for Investment and Development (EBID) has approved a fresh round of funding totaling €230 million and $10 million to finance high-impact infrastructure and economic development projects across West Africa.

The announcement was made following the bank’s 91st Ordinary Board Meeting chaired by Dr. George Donkor, President and Chairman of the Board of Directors.

The newly approved financing—designed to stimulate regional trade, industrial growth, and job creation—marks a strategic step toward deepening regional integration and advancing the United Nations Sustainable Development Goals (SDGs), particularly in infrastructure (SDG 9) and climate action (SDG 13).

Key Approvals and Strategic Focus

Among the most significant allocations is a $180 million line of credit to Mota-Engil Nigeria for the co-financing of the Kano-Maradi Standard Gauge Rail Project. The cross-border rail network is expected to improve logistics efficiency between Nigeria and Niger, promote intra-African trade, and create an estimated 100,000 construction jobs and 20,000 permanent positions upon completion. The project is viewed as a critical lever for economic integration under the African Continental Free Trade Area (AfCFTA).

In Nigeria, Sterling Bank Ltd. secured a $50 million credit facility dedicated to supporting Small and Medium Enterprises (SMEs) in key growth sectors such as healthcare, education, agriculture, renewable energy, and transport. The funding is expected to ease credit access for underserved sectors and enhance economic resilience in the region’s largest economy.

Additionally, Benin Cashew SA received a €10 million facility to co-finance the construction of five new cashew nut processing units and a balsam production plant within the Glo-Djigbe Industrial Zone in the Republic of Benin. The investment supports Benin’s Strategic Plan for the Development of the Agricultural Sector and is projected to meet 50% of the country’s cashew processing needs while generating over 1,600 permanent and daily jobs.

Alignment with EBID’s Development Strategy

The approved projects are in line with EBID’s broader strategy to unlock private sector growth and scale infrastructure financing across its 15 member states. With this latest round, the Bank’s cumulative commitment in the sub-region has now reached $4.5 billion.

According to Dr. Donkor, “These investments reflect our continued focus on building inclusive, climate-resilient economies through infrastructure expansion, industrial development, and SME empowerment. They also demonstrate EBID’s resolve to act as a key financial engine for sustainable transformation in West Africa.”

Implications for Investors and Regional Markets

The bank’s decision reinforces its position as a pivotal regional financier and development partner. For investors and analysts tracking infrastructure-led growth across sub-Saharan Africa, these approvals offer renewed confidence in the region’s investment outlook. Projects such as the Kano-Maradi rail corridor, in particular, are poised to unlock new commercial routes and deepen investor interest in logistics, transport, and industrial zones.

As West African economies continue to recover and reposition from global supply chain disruptions and climate-related shocks, the role of blended finance and regional banks like EBID is likely to grow. Investors looking at long-term infrastructure plays, green industrial development, and cross-border opportunities will find strategic entry points through such multilateral-backed projects.