On February 28, 2025, the ECOWAS Bank for Investment and Development (EBID) and the European Investment Bank (EIB), with help from the European Union (EU), announced a new partnership worth €100 million. This funding aims to support climate action and projects for environmental sustainability in the ECOWAS region of West Africa.
This credit line is part of a larger €150 million plan and marks the first collaboration between EBID and EIB. The focus is on fostering economic development and addressing climate challenges in the region, which often struggles to find adequate funding for these efforts.
The project will primarily fund renewable energy initiatives, including small and medium-sized solar projects, sustainable agriculture, and improved water treatment facilities. Altogether, the goal is to secure at least €300 million in investments, aligning with the ECOWAS strategic priorities and the EU’s Green Energy Initiative for Africa.
The partnership also supports the ECOWAS Vision 2050, aimed at promoting sustainable development, economic growth, and greater regional integration. Its initiatives will contribute to various Sustainable Development Goals, including improved agriculture, health, education, clean water, and affordable energy.
Dr. Mory Soumahoro, EBID Vice President, expressed gratitude for the credit line, emphasizing its potential to enhance growth and sustainable development in the ECOWAS region.
EIB Vice-President Ambroise Fayolle highlighted the significance of this collaboration, stating it would help close the financial gap in the area, ultimately aiming to reduce poverty and improve living conditions. He reiterated the EIB’s commitment to investing in infrastructure and supporting key sectors like innovation, renewable energy, and agriculture through the EU’s Global Gateway initiative.
European Commissioner for International Partnerships, Jozef Síkela, pointed out that many people in Africa still lack reliable access to electricity. He underscored the importance of this partnership in promoting clean energy and sustainable development in the ECOWAS region, empowering communities to create a greener future.
In addition to financial support, the EIB will provide technical assistance focused on climate action, including training and capacity-building programs to enhance sustainability efforts in the region.
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climate action,Economic Community of West African States (ECOWAS),ECOWAS Bank for Investment and Development (EBID),ECOWAS region,European Investment Bank (EIB),European Union (EU),Sustainability
