ABUJA, April 3 – The ECOWAS Bank for Investment and Development (EBID) has approved $266.7 million in new financing for infrastructure and industrial projects across West Africa, with Nigeria receiving the largest portion of the funding.
The approvals were granted during the Bank’s 95th Board of Directors meeting held on March 30, 2026, according to a statement released on April 2. Of the total, more than $241 million has been allocated to three projects in Nigeria.
The Lagos–Calabar Coastal Highway accounts for $100 million of the package, adding to previous funding for the 700-kilometre corridor expected to link nine coastal states and improve trade flows along Nigeria’s southern axis.
In addition, $91.63 million was approved for transport infrastructure in Bauchi State, aimed at reducing logistics costs and improving access to agricultural zones and essential services.
A further $50 million will support the development of waste management facilities in Lagos, targeting improved recycling capacity, job creation, and reduced environmental risks.
Across the region, the Bank also extended support to other member states. Senegal secured a credit line of XOF 20 billion to expand financing for small and medium-sized enterprises, while Côte d’Ivoire received XOF 10 billion through a local banking partner to boost SME lending.
In Ghana, $15 million was approved for a tissue paper manufacturing plant to cut import dependence, and The Gambia will receive $10.04 million to scale up poultry and dairy production.
EBID said the investments align with its strategy to support infrastructure, industrialisation, and food security, while strengthening regional economic integration.
