The ECOWAS Bank for Investment and Development (EBID) and the European Investment Bank (EIB) have partnered to invest €100 million in climate action and environmental sustainability across West Africa. Backed by the European Union (EU), this initiative aims to boost economic growth, bridge the financing gap in sustainable development, and reduce poverty.
According to Anita Somda-Dala, Head of Communications at EBID, this investment is part of a €150 million funding package and marks the first collaboration between EBID and EIB. The project focuses on sustainable investments, climate resilience, and economic progress.
Key Areas of Investment:
-Renewable Energy– Supporting small and medium-sized solar projects.
-Sustainable Agriculture– Promoting eco-friendly farming practices.
-Water Treatment– Enhancing access to clean water.
EBID Vice President Dr. Mory Soumahoro highlighted the impact of this initiative in driving sustainable economic growth in the region. EIB Vice President Ambroise Fayolle reaffirmed the bank’s commitment to reducing poverty and improving lives through sustainable financing.
This strategic partnership between EBID and EIB aims to create long-term economic resilience, environmental sustainability, and social progress, shaping a greener and more prosperous future for millions in West Africa.
