In a highly engaging interactive session on Thursday during its ongoing 2025 First Ordinary Session in Abuja.
The Ecowas Parliament welcomed MacDonald Saye GOANUE, Director of Research and Strategic Planning, representing the President of the ECOWAS Bank for Investment and Development, to present the Bank’s progress and vision for regional integration, economic transformation, and sustainable development.
The session highlighted EBID’s alignment with ECOWAS Vision 2050, which emphasizes regional intervention, social inclusion, and economic resilience.
GOANUE outlined the Bank’s strategic investments in infrastructure, energy, health, agriculture, education, and digital transformation.
He informed Community parliamentarians that since its inception, the Bank has disbursed over USD 2.5 Billion for more than 300 projects, positioning itself as the financial backbone of the ECOWAS region.
“In 2024 alone, the Bank approved 10 new projects worth UA 330. 76 million (USD 439.74 million) and appraised 21 additional projects,” he said.
Key flagship initiatives of the Bank include the interconnection of electricity networks between Mali and Côte d’Ivoire, solar electricity of 750 community facilities in Benin, and the construction of a vital bridge linking AIBD to Blaise Diagne Airport in Senegal.
GOANUE emphasized EBID’s role in boosting MSMEs financing, supporting public-private partnerships, especially in agro-processing and manufacturing.
“The number of projects benefiting from disbursements increased from 56 in 2023 to 77 in 2024. The annual loan disbursement rate was approximately 20.54% in 2024, slightly down from 21.58% in 2023,”
He concluded that the partnership between EBID and the Ecowas Parliament is essential to realizing a stable, prosperous and integrated sub-region.
Parliamentarians took turns to commend the Bank for its significant contribution to regional development. They also sought clarification on specific project implementations, and sustainability strategies, as well as offer constructive recommendations aimed at improving transparency, strengthening monitoring mechanisms, and ensuring that development financing is more inclusive.