The ECOWAS Bank for Investment and Development (EBID) has approved financing packages worth $75 million and €105 million to support energy security, industrial growth and private sector development across West Africa.
The approvals were announced at the conclusion of the bank’s 98th Ordinary Session of the Board of Directors held on Tuesday, underscoring its commitment to promoting sustainable economic growth and regional integration within the sub-region.
In a statement issued on Wednesday, EBID said the new funding interventions would target critical sectors, including energy, manufacturing and small and medium-sized enterprises (SMEs), which are widely regarded as key drivers of economic development and job creation.
Among the approved facilities is a $50 million funding package for Stratcon Energy and Trading Limited of Ghana to support the importation and distribution of refined petroleum products through a partnership with the Dangote Refinery.
According to the bank, the initiative is expected to strengthen regional energy security, improve the reliability of petroleum product supply and boost economic competitiveness across West Africa.
“The operation is expected to strengthen regional energy security, improve supply reliability, and enhance economic competitiveness,” the bank stated.
EBID also approved an €80 million credit facility for Coris Holding SA, a leading West African banking group, to expand financing for businesses, particularly SMEs, which account for more than 70 per cent of the institution’s loan portfolio.
The bank said the facility would stimulate productive sectors of the economy, deepen financial inclusion and support the creation and preservation of thousands of jobs across the region.
In Senegal, EBID approved a €25 million syndicated Murabaha financing facility for the national electricity company, SENELEC, in collaboration with the International Islamic Trade Finance Corporation (ITFC).
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The financing is expected to support the supply of refined petroleum products used in electricity generation, helping to ensure a stable energy supply for households, businesses and industries.
The bank noted that reliable electricity remains critical to economic growth and industrial development across the region.
Additionally, EBID approved a $25 million facility for Topaz Multi-Industries SA in Guinea to finance the importation of industrial raw materials and strengthen local manufacturing capacity.
The project is expected to promote import substitution, support industrial expansion and create sustainable employment opportunities within the country.
Speaking on the approvals, EBID President and Chairman of the Board of Directors, Dr. George Agyekum Donkor, described the interventions as strategic investments aimed at strengthening productive capacity, expanding access to finance and enhancing economic resilience across West Africa.
“These interventions demonstrate our resolve to support transformative initiatives that strengthen productive capacities, secure energy supply, and expand access to finance for businesses, particularly SMEs, which are the true engines of our region’s economic transformation,” Donkor said.
He noted that beyond their sectoral significance, the projects reflect the bank’s broader commitment to sustainable development and regional economic transformation.
According to him, the approved facilities are aligned with EBID’s Growth, Resilience and Optimisation (GRO) Strategy for 2026–2030, which seeks to accelerate economic growth, strengthen resilience and create sustainable opportunities for the people of West Africa.
The latest approvals reinforce EBID’s role as a key development finance institution within the ECOWAS region, supporting investments designed to stimulate economic activity, improve infrastructure and enhance the competitiveness of member states.