The ECOWAS Bank for Investment and Development (EBID) has announced plans to significantly scale up investments across West Africa over the next five years, as part of efforts to deepen regional integration and strengthen economic resilience.

The commitment was made at the bank’s 24th Annual General Meeting held in Accra on 8 April, where finance and planning ministers from the 15-member ECOWAS bloc endorsed a new strategic framework aimed at expanding development financing and improving efficiency.

The new roadmap, known as the Growth, Resilience and Optimisation (GRO) strategy for 2026–2030, will direct funding into infrastructure, agriculture, energy and digital transformation, with increased emphasis on climate resilience and private sector participation.

The strategy is expected to position EBID to play a more competitive role in regional development financing at a time when West African economies continue to face debt pressures, currency instability and infrastructure deficits.

Speaking on behalf of President John Dramani Mahama, presidential adviser Seth Terkper expressed Ghana’s support for the bank’s expanded mandate, describing it as essential for sustaining growth and cushioning economies against external shocks.

EBID President George Agyekum Donkor said the bank’s 2025 financial performance provides a strong foundation for the planned expansion in lending activities.

While the institution did not disclose specific investment figures, discussions at the meeting pointed to a significant increase in capital deployment compared to previous cycles.

The meeting also saw leadership changes, with the appointment of Ismael Nabe as new Chairman of the Board, replacing Ato Baah Forson, who was acknowledged for his role in guiding the bank’s strategic repositioning.

Ministers from Burkina Faso and Niger—members of the Alliance of Sahel States—were also present, highlighting continued engagement with EBID despite shifting political dynamics in parts of the sub-region.

The GRO strategy signals a more expansionary approach by the development bank as West African governments seek alternative financing sources amid tightening global credit conditions.

EBID announces five-year investment plan to boost West African growth

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