The ECOWAS Bank for Investment and Development (EBID) and the European Investment Bank (EIB) have launched a €100 million credit line to fund climate action and sustainability projects in West Africa.
This marks the EIB’s first partnership with EBID under a €150 million agreement, backed by the European Union (EU).
Sustainable Investments & Climate Goals
The funding will support renewable energy, sustainable agriculture, and water treatment projects, aligning with ECOWAS Vision 2050 and the Africa-European Union Green Energy Initiative.
“This partnership bridges the financial gap while reducing poverty and improving lives,” – EIB Vice-President Ambroise Fayolle.
Broader Impact & SDG Contributions
The initiative aims to mobilize €300 million in total investments and contribute to SDGs such as clean energy, health, and sanitation. It will also include technical assistance for climate action training and capacity building.
“By promoting clean energy, we are empowering the ECOWAS region to build a greener, more prosperous future,” – EU Commissioner Jozef Síkela.
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