The ECOWAS Bank for Investment and Development (EBID) on Monday reinstated its commitment to consolidating its relationship with the Republic of The Gambia through the financing of key infrastructure projects to propel economic transformation.
According to a statement by the bank, EBID will also fund developmental initiatives with the sole purpose of positively impacting the livelihoods of the Gambian people in the aftermath of the COVID-19 pandemic challenges.
The renewed commitment was made when the President and Chairman of the Board of Directors of EBID, Dr George Agyekum Donkor, paid a working visit to The Gambia.
Dr Donkor recounted the support EBID had extended to the Gambia in the past through the funding of the Government’s rural electrification project and construction of the Mandinaba-Soma Road and gave firm assurances of the Bank’s intention to support projects in the road infrastructure and energy sectors.
He further commended the Government’s collaboration with bilateral and multilateral partners to ensure access to energy for 1100 rural schools in addition to the positive economic indicators achieved by the country.
On his part, The President of the Republic of The Gambia, His Excellency President Adama Barrow, stated, “The Gambia has embraced EBID as an internal stakeholder and a key development partner as it charts the course of attaining economic independence for its people. We, as a people are resolute in pursuing the cohesive development agenda as enshrined in The Gambia 2030 Strategy. We will achieve this with you and other
development partners”.
The EBID President also held consultative discussions with the Minister for Finance and Economic Affairs of the Republic of The Gambia, Honourable Mambury Njie.
The ECOWAS Bank for Investment and Development (EBID) is a leading regional investment and
development bank, owned by the fifteen (15) ECOWAS Member States, namely, Benin,
Burkina Faso, Cape Verde, Côte d’Ivoire, The Gambia, Ghana, Guinea, Guinea-Bissau, Liberia,
Mali, Niger, Nigeria, Senegal, Sierra Leone and Togo.
Based in Lomé, Togolese Republic, the Bank is committed to financing developmental projects and programs covering diverse initiatives from infrastructure and basic amenities, rural development and environment, industry, and social services sectors, through its private and public sector windows. EBID intervenes through long, medium, and short-term loans, equity participation, lines of credit, refinancing, financial engineering operations and related services.
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