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The European Investment Bank (EIB) and ECOWAS Bank for Investment and Development (EBID) have signed a €100 million loan agreement to promote green and inclusive growth in West Africa.
The loan falls under the European Fund for Sustainable Development Plus (EFSD+), an integrated financial package for private sector operations.
The facility will aid EBID in addressing climate and social challenges in West Africa.
Dr Mory Soumahoro, EBID Vice-President of Risk and Control, and Mr Ambroise Fayolle, EIB Vice-President, signed the agreement at the Finance in Common Summit 2025 in Cape Town, South Africa.
“I am very delighted to sign this first operation with EBID to support economic development, climate action and environmental sustainability in the ECOWAS region,” Mr Fayolle said.
“It will help to bridge the financial gap in this region while contributing to reduce poverty and ameliorate daily lives.”
Dr Soumahoro, on his part, said the partnership reflected EBID’s commitment to supporting member countries’ access to sustainable finance.
The collaboration sought to enhance green financing, foster sustainable development, and boost climate resilience in the region.
“We appreciate this line of credit as an initiative of the European Investment Bank to help ECOWAS countries increase their growth and sustainable development,” he said.
The agreement highlights growing cooperation between regional and international development finance institutions to bridge financing gaps and provide essential support to countries and sectors in need.
The ceremony was attended by Mr Antti Karhunen, the Director of the European Commission.
Source: myghanadaily
