Signature(s)
Summary sheet
- Education - Education
- Health - Human health and social work activities
- Water, sewerage - Agriculture, forestry and fishing
- Energy - Electricity, gas, steam and air conditioning supply
- Water, sewerage - Water supply; sewerage, waste management and remediation activities
Multi-sector Framework Loan with the ECOWAS Bank for Investment and Development (EBID) for the financing of at least 70% Climate Action (CA) and Environmental Sustainability (ES) projects in the ECOWAS region.
The project will help the financing of Climate Action and Environmental Sustainability projects in West African countries.
The project aims to strengthen the climate action and energy sectors in the ECOWAS region by providing a credit line to the ECOWAS Bank for Investment and Development (EBID) with a strong focus of at least 70% on Climate Action and Environmental Sustainability (CA&ES).
These funds will be channelled into various sectors to support climate change mitigation, sustainable economic development and regional integration within ECOWAS. EIB financing will be considered as complementary, filling financing gaps while strengthening EBID's financial position with a diversified, longer-term and competitive funding structure. This initiative is strategically aligned with ECOWAS and EU priorities including the Neighbourhood, Development and International Cooperation Instrument (NDICI), supporting nationally determined contribution commitments, regional climate change strategies and poverty reduction, and is consistent with EU-Africa cooperation strategies. The project is further expected to support the Global Gateway strategy of the EU by enabling infrastructure improvements.
In addition, the project is expected to advance several SDGs. It addresses market failures, in particular the lack of competitive access to finance in sub-Saharan Africa for CA&ES projects. The individual projects are expected to yield strong economic returns and wider social benefits, supported by the EIB's contributions and expected technical advisory support.
Final beneficiaries will be requested to comply with applicable national and EU legislation, as appropriate.
Final beneficiaries will be requested to comply with applicable national and EU legislation, as appropriate.
Under EFSD+ Guarantee