The board approves the financing of six projects in the amount of USD 69.6 million during the meeting at the headquarters of the Bank in Lomé. The meeting was chaired by Mr Christian ADOVELANDE, President of EBID, in presence of Directors and management staff of the Bank.

The cities of Beijing and Wuhan respectively hosted the first China – ECOWAS Economic Forum from 23 to 24 and 25 to 26 September 2008. In attendance at this important gathering were: the President of the ECOWAS Commission, Doctor Mohammed Ibn Chambas, several Ministers from member countries of the Community, the EBID President, Christian ADOVELANDE, the Chief Executive Officer of the ECOBANK Group, Arnold EKPE, Chief Executives of several financial institutions in West Africa as well as a high powered delegation of businessmen, promoters and senior management executives in Africa.

The Economic Community of the States of West Africa (ECOWAS) is organizing the first ECOWAS-CHINA economic and trade forum of 23 to 26 September in Beijing in China. Some 450 delegates from ECOWAS are expected in Beijing for the forum. The objective of this meeting is to promote economic relations between China and the subregion.

The Economic Community of West African States (ECOWAS) presented a cheque of FCFA55 million to Togo as support to manage the humanitarian crisis resulting from floods in most of the regions.

ECOWAS Bank for Investment and Development (EBID) granted a loan in the amount of USD13 million, representing about FCFA5.8 billion to Togo for the rehabilitation and extension of the electricity distribution network of the Compagnie d’Energie Electrique du Togo (CEET) [Togo Electricity Company].

On Friday 08 August 2008 ECOWAS Bank for Investment and Development (EBID) granted a loan in the amount of USD15 million to the Ghana National Fire Service. The objective of the project is to modernize the Ghana National Fire Service through the acquisition of modern equipment and the implementation of a staff training programme to enhance more effective fire fighting operations in rural and urban areas.

On Tuesday 29 July 2008, at its headquarters in Lomé, the ECOWAS Bank for Investment and Development (EBID) granted a loan in the amount of USD 2.97 million equivalent to CFA F 1.25 billion to PRIDE PETROLEUM, a firm based in Abidjan, and another loan in the amount of CFA F 4.5 billion or about USD 10.68 million to SPRUKFIELD UK, a firm based in Lomé.

The 6th meeting of the Board of Governors of the ECOWAS Bank for Investment and Development (EBID) was held on 30 June 2008 at the Headquarters of the National Assembly in Praia, Republic of Cape Verde.