EBID Holds 67th Board, Approves $US39.6m Projects, and 35m Euros Project
The 67th meeting of the ECOWAS Bank for Investment and Development (EBID) was held on Thursday, April 7 2020. It was Bank’s first regional teleconference zoom meeting and was coordinated from the headquarters in Lomé, Togolese Republic.
Overall, the Board approved three projects, two of which were from the public sector, and one from the private sector. One of the public sector projects was the part funding of the construction of eleven (11) bailey steel bridges in the amount of twenty-five million United States dollars (US$25m). The eleven bridges represent the current phase of a wider rehabilitation project involving the construction of one hundred (100) bridges for one thousand (1000) critical locations in rural areas across the country within the framework of the National Development Plan (NDP 2016-2020).
The second public sector project approved for EBID part funding was the Irrigation Farming Development Project Under the Resettlement Action Plan of the Second Batch (PAR 2A), of the Kandadji Program for the Regeneration of Ecosystems and the Development of the Niger Valley (P-KRESMIN), in the Republic of Niger. EBID is providing financing to the project in the amount of fourteen million six hundred thousand United States dollars (US$14.6m). The project is also in line with Bank’s 2016-2020 strategic plan especially the component relating to improving the living conditions of rural populations.
The third project was from the private sector namely, the thirty-five million Euros (€35m) line of credit to NSIA BANQUE Cote d’Ivoire, to enhance its lending capacity to small and medium enterprises in the country. This is also in line with EBID’s efforts to strengthen the private sector in view of its high potential to provide jobs and create wealth.
