European Investment Bank and Ecowas Bank for Investment and Development Partner to Support West Africa’s Climate Action and Sustainability Initiatives

The European Investment Bank (EIB) and the ECOWAS Bank for Investment and Development (EBID) have signed a landmark €100 million loan agreement to support West Africa’s efforts to promote green and inclusive growth and address climate and social challenges.

The agreement was signed on the sidelines of the Finance in Common Summit 2025 in Cape Town, South Africa, by Dr Mory Soumahoro, EBID’s Vice-President of Risk and Control, and Mr. Ambroise Fayolle, EIB’s Vice-President. The ceremony was also attended by Mr. Antti Karhunen, Director of the European Commission.

“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 reduce poverty and ameliorate daily lives, “said M. Ambroise Fayolle.

The loan agreement is provided under the European Fund for Sustainable Development Plus (EFSD+), which offers an integrated financial package for private sector operations in countries. The facility will support EBID’s efforts to promote green and inclusive growth and address climate and social challenges in West Africa.

“We appreciate this line of credit as an initiative of the European Investment Bank to help ECOWAS countries increase their growth and sustainable development,” said Dr Mory Soumahoro. “This partnership demonstrates EBID’s commitment to supporting regional member countries’ access to sustainable sources of finance.”

The partnership between EBID and EIB aims to reinforce West Africa’s access to green financing, driving sustainable development and climate resilience in the region. This collaboration demonstrates the growing cooperation between regional and international development finance institutions to bridge financing gaps and channel essential funds to countries and sectors in need.