ECOWAS Bank, Taraba seal landmark $268m financing to power industrial, agricultural, energy transformation – EnviroNews

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The ECOWAS Bank for Investment and Development (EBID) and the Government of Taraba State of Nigeria have signed three landmark loan agreements totalling $268 millionon Friday, June 26, 2026.

The agreements were executed at EBID Headquarters by Dr. George Agyekum Donkor, President and Chairman of the Board of Directors of EBID, and Dr. Agbu Kefas, Governor of Taraba State, who led a high-level delegation of government officials, technical advisers, and development partners.

The financing package comprises three strategic interventions:

• $91.23 million for Phase I of an integrated industrial park, a multi-cluster logistics and manufacturing hub designed to attract private investment, stimulate value addition and create jobs.
• $79.21 million to develop 10,000 hectares of irrigated rice paddies and a modern milling and processing facility, strengthening food security and reducing dependence on imported rice.
• $98.19 million to finance a 50 MW solar photovoltaic plant in Jalingo, improving grid reliability, expanding access to clean energy and supporting industrial growth.

The projects align with EBID’s Growth, Resilience and Optimisation (GRO) Strategy, which prioritises investments that deliver measurable economic, social and environmental impact across West Africa.

Speaking at the ceremony, Dr. Donkor stated: “By investing simultaneously in industrial infrastructure, agricultural value chains and renewable energy, EBID is delivering an integrated development package with lasting regional impact. This partnership reflects our commitment to building resilient and competitive economies across West Africa.”

Governor Kefas described the agreements as a transformational milestone for Taraba State, saying: “This financing, secured through our partnership with EBID, lays the foundation for economic transformation by strengthening industry, enhancing food security and expanding access to reliable, sustainable energy for the people of Taraba State.”

Collectively, the projects are expected to position Taraba State as a leading industrial and agricultural hub in Nigeria while supporting the transition to a lower-carbon economy. For EBID, the agreements further reinforce its role as a leading regional development finance institution advancing sustainable infrastructure and economic transformation across West Africa.