Since its founding in 1999, the ECOWAS Bank for Investment and Development (EBID) has poured more than $2.5 billion into over 300 development projects across West Africa, reinforcing its role as a cornerstone of economic progress in the region.
This was made known during an interactive session between EBID officials and members of the ECOWAS Parliament, held Thursday at the First Ordinary Session of the regional assembly in Abuja. The dialogue provided a platform for the bank to highlight its ongoing efforts in line with ECOWAS’ Vision 2050 — a roadmap for deeper regional integration, social inclusion, and sustainable development.
Speaking on behalf of EBID President Dr. George Donkor, the bank’s Director of Research and Strategic Planning, Mr. MacDonald Goanue, said EBID had grown into the region’s financial backbone over the past 26 years. He emphasized that the bank’s investments span vital sectors including infrastructure, energy, health, agriculture, education, and digital innovation — all areas critical to West Africa’s long-term development.
“In just this year alone, we’ve approved 10 new projects worth nearly $440 million and evaluated 21 more proposals,” Goanue shared.
Among the bank’s key priorities, he noted, is stronger support for Medium, Small, and Micro Enterprises (MSMEs), as well as expanding public-private partnerships in high-impact sectors like agro-processing and manufacturing. These areas, he stressed, are essential for building economic resilience and creating jobs across the subregion.
He also pointed to a clear upward trend in project disbursements — from 56 projects in 2023 to 77 in 2024. While there was a slight dip in the annual loan disbursement rate (from 21.58% to 20.54%), the overall growth in project volume reflects increasing demand and regional confidence in the bank’s mission.
“This collaboration with the ECOWAS Parliament is crucial,” Goanue said. “It’s how we can build a stronger, more united West Africa.”
Turning to the bank’s finances, he reaffirmed Nigeria’s leading role in EBID, noting that the country holds about one-third of the bank’s total shares.
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