EIB and EBID Seal €100M Partnership to Drive Green and Inclusive Development in West Africa—The European Investment Bank (EIB) and the ECOWAS Bank for Investment and Development (EBID) have signed a €100 million loan agreement aimed at promoting sustainable and inclusive growth across West Africa.
This landmark agreement, secured under the European Fund for Sustainable Development Plus (EFSD+), is designed to support private sector initiatives while addressing key climate and social challenges facing the region.
The signing ceremony took place at the Finance in Common Summit 2025 in Cape Town, South Africa. Dr. Mory Soumahoro, EBID’s Vice-President of Risk and Control, and Mr. Ambroise Fayolle, EIB Vice-President, formally signed the agreement.
Mr. Fayolle expressed optimism about the deal, stating, “I am very delighted to sign this first operation with EBID to support economic development, climate action, and environmental sustainability in the ECOWAS region. It will help to bridge the financial gap in this region while contributing to poverty reduction and better livelihoods.”
Dr. Soumahoro noted that the partnership underscores EBID’s ongoing efforts to expand access to sustainable finance for its member countries. “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 loan facility will enhance EBID’s capacity to channel funds into green finance projects, strengthen climate resilience, and encourage inclusive economic initiatives in the sub-region.
The signing was also witnessed by Mr. Antti Karhunen, Director of the European Commission, emphasizing the growing collaboration between regional and international development finance institutions in tackling critical financing gaps and promoting shared prosperity in West Africa.
Last Updated on April 7, 2025 by Senel Media
