By Maxwell Awumah, GNA
Ho, Aug 07, GNA-The Board of Directors of the ECOWAS Bank for Investment and Development (EBID) has approved five strategic operations valued at more than EUR 269.55 million and USD 200 million, representing over USD 510 million in total commitments.
The financing is expected to support investments in transport infrastructure, healthcare, renewable energy, and private-sector development across West Africa, according to its release to the Ghana News Agency.
The decisions were taken at the Bank’s 100th Board Meeting, chaired by Dr George Agyekum Donkor, President and Chairman of the Board of Directors of EBID, underscoring the Bank’s commitment to financing high-impact investments that foster economic growth and create lasting development outcomes across the region.
Key operations endorsed by the Board include Ghana are the Transport Infrastructure: worth USD 150 million credit facility for Maripoma Enterprise Limited to support eight strategic road and bridge projects with an estimated portfolio value of approximately USD 1.2 billion, enhancing connectivity to boost economic activity.
There is also the Guinea – Road Infrastructure: worth EUR 143.06 million for the construction and paving of the 84-kilometre Cissela–Banko–N’Dèma and Banko–Saraya roads, improving transport corridors, facilitating trade and reducing transport costs.
The third operation is the Guinea – Healthcare: EUR 65.87 million for the construction of a 200-bed regional hospital in Siguiri, expanding access to specialised healthcare services for more than 1.7 million people.
The fourth is the Guinea – Renewable Energy: EUR 60.62 million for the Tinkisso II Hydropower Project, with an installed capacity of 11 megawatts and annual generation of 48 gigawatt-hours, providing clean electricity to more than 350,000 people.
The fifth is the Sierra Leone – Financial Sector: USD 50 million subordinated loan facility for WAICA Reinsurance Corporation Plc to strengthen its capital base and expand financing for infrastructure, energy, transport, and agriculture while promoting Environmental, Social and Governance (ESG) standards.
Dr Donkor, commenting on the Board approvals, noted that these operations support transformative investments that strengthen regional connectivity, expand access to essential services, promote sustainable energy and mobilise capital for private sector development.
He emphasised that the initiatives were fully aligned with EBID’s mandate and reflected the Bank’s commitment to improving the lives of people across West Africa.
The operations advance the objectives of EBID’s Growth, Resilience and Optimisation (GRO) Strategy 2026–2030, which seeks to accelerate structural transformation across West Africa through catalytic investment.
By supporting projects that unlock productive capacity, stimulate private investment, and strengthen economic competitiveness, the Bank is helping to lay the foundations for greater economic self-reliance, lasting prosperity, and improved living standards for the people of the subregion.
GNA
Edited by Benjamin Mensah
Reporter: Maxwell Awumah
Reporter’s email address: [email protected]