EBID Board Approves $308.631m, For Taraba State, Vista Bank Guinea

• To Advance Clean Energy, Industry, Social Development, Private Sector Growth

The ECOWAS Bank for Investment and Development (EBID), Board of Directors during its 93rd Ordinary Session convened at the Bank’s headquarters in Lomé, approved a total of USD 308.631 million to catalyse strategic investments in clean energy, industrial development, and sustainable growth across West Africa.

The session was presided over by Dr. George Agyekum Donkor, President and Chairman of the Board of Directors.

Dr. Donkor underscored that the newly approved financing will advance strategic public and private sector initiatives aligned with EBID’s mandate to promote sustainable development throughout the ECOWAS region by strengthening regional integration and fostering economic diversification.

The approved facilities will fund the following projects: A USD 40 million line of credit for Vista Bank Guinea to bolster trade-related activities, including import-export operations and commercial value chains.

This initiative is projected to assist approximately 105 enterprises, generating and sustaining several thousand direct and indirect jobs while making a substantial contribution to inclusive growth and the reduction of unemployment.

A 50 MW Solar Photovoltaic Power Plant in Taraba State, Nigeria (USD 98.18 million), which will augment the supply of reliable, clean electricity to spur inclusive economic development, alleviate energy poverty, and improve environmental sustainability.