In a landmark decision poised to reshape West Africa’s economic landscape, the ECOWAS Bank for Investment and Development (EBID) has approved a significant funding package totalling $230 million and €10 million. The announcement came following the bank’s 91st Ordinary Board Meeting chaired by Dr. George Agyekum Donkor, EBID’s President and Chairman of the Board of Directors.

This substantial investment will finance high-impact projects across infrastructure, agriculture, renewable energy, education, and transport, with a strong emphasis on SME development, job creation, and regional trade integration.

SME Empowerment in Nigeria: $50 Million Credit Facility to Sterling Bank

A major highlight is the $50 million credit line extended to Sterling Bank Nigeria, which is strategically aimed at supporting Small and Medium Enterprises (SMEs) in pivotal sectors such as health, agriculture, renewable energy, education, and transportation.

This move is expected to stimulate grassroots economic activity, promote financial inclusion, and align with both Nigeria’s national development agenda and Sterling Bank’s SME-focused growth strategy.

🌱 Aligned with Global Goals: SDG-Driven Investments

All approved initiatives are carefully aligned with the United Nations Sustainable Development Goals (SDGs)—particularly:

• SDG 9: Industry, Innovation, and Infrastructure
• SDG 13: Climate Action

They also support EBID’s long-term vision of inclusive growth, climate-conscious investments, and regional resilience.