Nume Ekeghe
The ECOWAS Bank for Investment and Development (EBID) has approved a $100 million facility for Nigeria’s Kano-Maradi Standard Gauge Railway Project, providing fresh financing for the acquisition of rolling stock and operational equipment for the second phase of the project.
The approval was part of four operations valued at $390 million approved by the bank’s Board of Directors at its 101st Ordinary Meeting held in Lomé, Togo, on September 28, 2026.
In a statement from the bank, the Kano-Maradi project is expected to strengthen rail connectivity between northern Nigeria and the wider West African region, while supporting the movement of people and goods and facilitating cross-border trade. The rail financing is particularly significant as improved transport infrastructure remains central to reducing the cost and difficulty of moving goods across the region.
The $100 million commitment places the transport project among the major investments approved by EBID as the regional development bank steps up financing for infrastructure and productive sectors under its new Growth, Resilience and Optimisation (GRO) Strategy for 2026-2030.
Beyond Nigeria, Ghana accounted for the largest share of the latest approvals, with EBID committing $50 million to MOSL Limited to support the supply of petroleum products and another $230 million to Azumah Resources Ghana Limited for the development of the Black Volta Gold Project.
The bank also approved $10 million for the pilot phase of the West Africa Initiative for Climate-Smart Agriculture (WAICSA), covering Ghana, Senegal and Togo.
Commenting on the approvals, President and Chairman of the Board of Directors of EBID, Dr. George Agyekum Donkor, stated that the investments reflect EBID’s focus on financing projects with tangible economic and developmental impact.
He noted that the approved operations would support productive activity, strengthen regional value chains, facilitate trade and create opportunities for private-sector participation and employment.
“These approvals reinforce EBID’s commitment to implementing its Growth, Resilience and Optimisation Strategy 2026-2030 and advancing key Sustainable Development Goals (SDGs), including SDG 1, No Poverty, SDG 2, Zero Hunger, SDG 8, Decent Work and Economic Growth, SDG 9, Industry, Innovation and Infrastructure and SDG 13 Climate Action.
“Through strategic investments in agriculture, energy, transport infrastructure, mining and climate-smart development, EBID continues to deliver sustainable solutions that strengthen regional integration and improve living conditions for West African communities.”