EBID commits more than half a billion US dollar to accelerate development across West Africa
The ECOWAS Bank for Investment and Development (EBID) has approved five strategic operations worth more than €269.55m and $200m, bringing its total commitments to more than $510m. The financing will support projects spanning transport infrastructure, healthcare, renewable energy and private-sector development across West Africa.
The approvals were made at EBID's 100th Board Meeting, chaired by Dr George Agyekum Donkor, President and Chairman of the Bank's Board of Directors. The decisions underline EBID's focus on financing investments capable of supporting economic growth while delivering longer-term development benefits across the region.
In Guinea, the Bank has committed €143.06m to the construction and paving of the 84-kilometre Cissela-Banko-N'Dèma and Banko-Saraya roads. The projects are intended to improve transport corridors, facilitate trade and reduce transport costs, strengthening connections within the country and across the wider regional economy.
A further €65.87m will finance the construction of a 200-bed regional hospital in Siguiri. The facility is expected to expand access to specialised healthcare services for more than 1.7 million people, providing a significant addition to healthcare infrastructure in the region.
Originally published by African Business.