Abuja, Nigeria: The ECOWAS Bank for Investment and Development (EBID) has announced the approval of $439.74 million for 10 new development projects in West Africa, reinforcing its commitment to regional integration and sustainable growth under the ECOWAS Vision 2050 framework.
Speaking on behalf of EBID President at the 2025 First Ordinary Session of the ECOWAS Parliament in Abuja, Director of Research and Strategic Planning, Mr. MacDonald Saye Goanue, outlined the Bank’s strategic priorities, including economic resilience, social inclusion, and green development.
Since inception, EBID has invested over $2.5 billion in more than 300 projects spanning critical sectors such as infrastructure, energy, agriculture, healthcare, education, and digital innovation. In addition to the newly approved projects, 21 others are currently under evaluation for future funding.
Highlighted initiatives include a cross-border electricity interconnection between Mali and Côte d’Ivoire, the solar electrification of 750 rural facilities in Benin, and the construction of a key bridge near Senegal’s Blaise Diagne International Airport.
Goanue also stressed EBID’s expanding support for micro, small, and medium-sized enterprises (MSMEs) and its growing partnerships in agro-processing and manufacturing. He acknowledged a slight dip in the Bank’s disbursement rate—from 21.58% in 2023 to 20.54% in 2024—attributing it to strategic adjustments for long-term sustainability.
While lawmakers applauded EBID’s regional impact, they urged improved transparency, enhanced monitoring, and equitable access to funding across all member states. Goanue welcomed the call for greater parliamentary collaboration, noting its importance in realizing a unified, peaceful, and prosperous West Africa.
ECOWAS Parliament Adopts New Governance Rules
In a parallel development, the ECOWAS Parliament has adopted a revised Rules of Procedure aimed at strengthening internal accountability, promoting transparency, and ensuring more effective representation.
The reforms—presented by Mr. Billay Tunkara, Chair of the Ad Hoc Committee on Rules Review and Fourth Deputy Speaker—were unanimously approved during the Abuja session.
Key amendments include the introduction of penalties for absenteeism, with lawmakers facing suspension of sitting allowances if they miss over one-third of a session without valid justification. Other reforms promote gender and linguistic balance, enforce decorum and a formal dress code, and prohibit derogatory remarks against colleagues and Heads of State.
Additionally, a stricter quorum now requires the presence of at least 50 members to open a session. A significant procedural change also bars the Speaker from participating in debates unless the chair is temporarily handed to a Deputy Speaker, reinforcing the Speaker’s neutrality.
Tunkara described the reforms as “a necessary step toward deepening democratic culture and reinforcing the credibility of the ECOWAS Parliament.”
By Taiwo Olatinwo/ May 23,2025
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