Nigeria is poised to contribute an additional 100 million to the ECOWAS Bank for Investment and Development EBID , reinforcing its role as a central player in promoting economic growth and regional integration across West Africa.
The announcement was made by Dr George Donkor, President of EBID, during an interactive session with leaders of ECOWAS institutions and specialised agencies at the First Ordinary Session of the ECOWAS Parliament currently taking place in Abuja. The session provided a platform for the bank to share its progress and outline its strategic vision for the region.
Dr Donkor, who was represented by MacDonald Goanue, EBID's Director of Research and Strategic Planning, highlighted Nigeria's position as the bank's largest shareholder, holding approximately 33 of the total shares. "Nigeria is the biggest contributor to EBID. Nigeria is in the process of even paying 100 million dollars to the bank," he noted.
Established in 1999, EBID has grown to become a key financial institution in the region, having disbursed over 2.5 billion to support approximately 300 projects. In 2024 alone, the bank approved 10 new projects worth 330.76 million Units of Account equivalent to 439.74 million and reviewed 21 additional proposals, underscoring its expanding footprint in regional development.
The EBID chief reaffirmed the bank's commitment to economic transformation through investments in vital sectors such as infrastructure, energy, health, agriculture, education, and digital innovation. Among the flagship initiatives are the development of electricity interconnection between Mali and Cote d'Ivoire, installation of solar power systems in 750 community facilities across Benin, and construction of a key bridge linking the AIBD and Blaise Diagne Airport in Senegal.