{"id":275904,"date":"2021-11-04T10:10:14","date_gmt":"2021-11-04T10:10:14","guid":{"rendered":"http:\/\/bidc-ebid.org\/?p=275904"},"modified":"2021-11-04T12:10:51","modified_gmt":"2021-11-04T12:10:51","slug":"ebid-board-approves-68105350-42-funding-for-projects","status":"publish","type":"post","link":"https:\/\/www.bidc-ebid.org\/en\/ebid-board-approves-68105350-42-funding-for-projects\/","title":{"rendered":"EBID Board approves $68,105,350.42 Funding for Projects"},"content":{"rendered":"

The Board of Directors of the ECOWAS Bank for Investment and Development (EBID) has approved sixty-eight million, one hundred and five thousand, three hundred and fifty united states dollars, forty-two cents <\/strong>(US$68,105,350.42) for the funding of public and private sector projects, during its 75th<\/sup> Meeting held on 1st October 2021, at the Bank\u2019s headquarters in Lom\u00e9, Togolese Republic.<\/p>\n

The President and Chairman of the Board of Directors of EBID, Dr. George Agyekum DONKOR, <\/strong>reiterated that the funding \u2013 which further heightens the Bank\u2019s commitment to achieve the objectives of its Strategy 2021-2025 \u2013 will address infrastructure gaps in key sectors such as health, industry, agribusiness, and trade, in 4 member states of ECOWAS <\/strong>namely Togo, Cote D\u2019ivoire, Ghana and Senegal.<\/p>\n

Among the projects approved was the construction of a 60-bed specialized state of the art medical referral facility <\/strong>valued at twelve million, one hundred and fifty- seven thousand united states dollars <\/strong>(US$12,157,000.00) at Camp General Gnassingbe Eyadema in Togo<\/strong>. This will ensure world-class healthcare delivery and access to quality health care services in addition to the creation of an estimated 435 jobs among other benefits.<\/p>\n

In Issia, C\u00f4te d’Ivoire, <\/strong>the Board approved the construction of a semi-industrial processing plant (crushing plant and washing line) <\/strong>to the tune of eight million, two hundred and ninety-six thousand, four hundred and eleven united states dollars, and thirty-six cents <\/strong>(US$8,296,411.36), which is intended to exploit and add value to the Coltan mining potential<\/strong>.<\/p>\n

There was a further approval of 2 lines of credit <\/strong>to the Universal Merchant Bank Limited (UMB) <\/strong>based in Accra, Ghana<\/strong>, for the sum of thirty million united states dollars <\/strong>(US$30,000,000.00) and “Banque Nationale pour le D\u00e9veloppement Economique (BNDE)” <\/strong>in the Republic of Senegal<\/strong>, for the sum of seventeen million, six hundred and fifty-one thousand, nine hundred and thirty-nine united states dollars, and six cents <\/strong>(US$17,651,939.06) <\/strong>respectively. <\/strong>The approved credit lines will provide the respective Banks with stable resources to improve the coverage rate of their long- and medium-term commitments with specific reference to SMEs\/SMIs <\/strong>and effectively enhance their intervention capacities. The\u00a0focus will be the funding of activities related to the development and promotion of SMEs\/SMIs through the provision of financing for processing and industrialisation in the agribusiness, health, services, and infrastructure sectors.<\/p>\n

Finally, the Board gave approval for a twenty-million-united states dollar <\/strong>(US$20,000,000.00) line of credit which will be made available to companies in the ECOWAS sub-region to source goods and services from the United Arab Emirates (UAE) or UAE-related companies to boost commerce and trade.<\/p>\n","protected":false},"excerpt":{"rendered":"

The Board of Directors of the ECOWAS Bank for Investment and Development (EBID) has approved sixty-eight million, one hundred and five thousand, three hundred and fifty united states dollars, forty-two cents (US$68,105,350.42) for the funding of public and private sector projects, during its 75th Meeting held on 1st October 2021, at the Bank\u2019s headquarters in […]<\/p>\n","protected":false},"author":1,"featured_media":275906,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[4],"tags":[172,84,173,85,174],"class_list":["post-275904","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-bnde","tag-board-of-directors","tag-coltan-mining","tag-cote-divoire","tag-universal-merchant-bank"],"jetpack_featured_media_url":"https:\/\/www.bidc-ebid.org\/en\/wp-content\/uploads\/donkor_75eme.jpg","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/www.bidc-ebid.org\/en\/wp-json\/wp\/v2\/posts\/275904","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.bidc-ebid.org\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.bidc-ebid.org\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.bidc-ebid.org\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.bidc-ebid.org\/en\/wp-json\/wp\/v2\/comments?post=275904"}],"version-history":[{"count":2,"href":"https:\/\/www.bidc-ebid.org\/en\/wp-json\/wp\/v2\/posts\/275904\/revisions"}],"predecessor-version":[{"id":275907,"href":"https:\/\/www.bidc-ebid.org\/en\/wp-json\/wp\/v2\/posts\/275904\/revisions\/275907"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.bidc-ebid.org\/en\/wp-json\/wp\/v2\/media\/275906"}],"wp:attachment":[{"href":"https:\/\/www.bidc-ebid.org\/en\/wp-json\/wp\/v2\/media?parent=275904"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.bidc-ebid.org\/en\/wp-json\/wp\/v2\/categories?post=275904"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.bidc-ebid.org\/en\/wp-json\/wp\/v2\/tags?post=275904"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}