Abuja, Nigeria – The ECOWAS Bank for Investment and Development (EBID) presented its progress report to the ECOWAS Parliament today, reaffirming its commitment to regional integration and sustainable development across West Africa. The session took place on Thursday during the Parliament’s ongoing 2025 First Ordinary Session in Abuja.
MacDonald Saye GOANUE, Director of Research and Strategic Planning, represented the EBID President, outlining the Bank’s vision. The discussions highlighted EBID’s alignment with ECOWAS Vision 2050, which prioritises regional intervention, social inclusion, and economic resilience.
Mr. GOANUE detailed the Bank’s strategic investments across key sectors, including infrastructure, energy, health, agriculture, education, and digital transformation. He informed Community parliamentarians that EBID has disbursed over USD 2.5 billion for more than 300 projects since its inception, positioning it as a financial cornerstone for the ECOWAS region.
In 2024 alone, the Bank approved 10 new projects valued at UA 330.76 million (approximately USD 439.74 million) and appraised an additional 21 projects. Flagship initiatives include the interconnection of electricity networks between Mali and Côte d’Ivoire, the provision of solar electricity to 750 community facilities in Benin, and the construction of a vital bridge linking AIBD to Blaise Diagne Airport in Senegal.
EBID also plays a crucial role in boosting financing for Micro, Small, and Medium Enterprises (MSMEs) and supporting public-private partnerships, particularly in agro-processing and manufacturing. The number of projects benefiting from disbursements increased from 56 in 2023 to 77 in 2024, with the annual loan disbursement rate at approximately 20.54% in 2024.
Parliamentarians commended the Bank for its significant contributions to regional development. They also sought clarification on specific project implementations and sustainability strategies, offering constructive recommendations aimed at improving transparency, strengthening monitoring mechanisms, and ensuring more inclusive development financing. The session concluded with an emphasis on the essential partnership between EBID and the ECOWAS Parliament for a stable, prosperous, and integrated sub-region.
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