West Africa’s push toward climate-resilient and inclusive development received a major boost as the European Investment Bank (EIB) and the ECOWAS Bank for Investment and Development (EBID) signed a €100 million financing agreement aimed at strengthening green initiatives and private-sector growth across the region.
The agreement, finalized on the sidelines of the Finance in Common Summit 2025 in Cape Town, marks a significant deepening of financial cooperation between Europe’s development bank and West Africa’s regional investment engine. The loan, issued under the European Fund for Sustainable Development Plus (EFSD+), is structured to catalyze investment in climate action, environmental protection, and socially inclusive economic activities.
EIB Vice-President Ambroise Fayolle, speaking at the ceremony, framed the partnership as a strategic intervention at a time when West African economies face tightening fiscal space, climate stress, and rising development needs.
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📲 Join the Channel Now“I am very delighted to sign this first operation with EBID to support economic development, climate action, and environmental sustainability in the ECOWAS region. It will help to bridge the financial gap in this region while contributing to poverty reduction and better livelihoods,” Fayolle said.
EBID’s Vice-President for Risk and Control, Dr. Mory Soumahoro, described the financing as a timely reinforcement of the bank’s ambitions to scale access to sustainable finance among its 15 member states. He emphasized that the loan will expand EBID’s ability to back transformative projects in renewable energy, climate resilience, and private-sector innovation.
“We appreciate this line of credit as an initiative of the European Investment Bank to help ECOWAS countries increase their growth and sustainable development,” he said.
The signing was witnessed by Antti Karhunen, Director at the European Commission, highlighting Brussels’ growing commitment to global green financing partnerships and to Africa’s development architecture.
Strengthening Green and Inclusive Financing Across the Sub-Region
For EBID, the new credit line is expected to be deployed into a mix of renewable energy ventures, small-business financing, climate-smart agriculture programs, and infrastructure projects designed to protect vulnerable communities. Analysts say the facility will help plug a persistent financing gap in a region where climate-related losses and rising population pressures demand new investment models.
The deal also aligns with Europe’s broader strategy to deepen cooperation with African financial institutions, positioning local banks to take on a greater role in financing development at sustainable terms.
In a region where limited access to climate finance has slowed adaptation efforts, the EIB–EBID collaboration is being viewed as a blueprint for future partnerships aimed at de-risking green projects and enabling small businesses to adopt sustainable technologies.
As global development finance institutions push for more coordinated action, the €100 million operation underscores a shared agenda: mobilizing investment that both accelerates growth and protects the resilience of West Africa’s economies.
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