The Board of Directors of the West Africa Development Bank (BoI) approved a total of 390 million USD on 28 September 2026 in Lomé, Togo. This decision, taken during its 101st ordinary meeting, covers four projects spanning mining, energy, rail, and agriculture sectors.
280 million USD allocated to extractive and energy sectors in Ghana
The largest share of this funding is allocated to Ghana, with two distinct operations totaling 280 million USD. A 230 million USD facility was granted to Azumah Resources Ghana Limited. These funds will support the development of the Black Volta gold project, with stated goals of creating local value and boosting the economy.
Still in Ghana, the regional bank approved a 50 million USD package for MOSL Limited. This financial support aims to enhance the country’s supply of petroleum products.
Support for rail transport in Nigeria and climate-resilient agriculture
In Nigeria, the sub-regional bank commits 100 million USD to the transport sector. This funding is earmarked for Phase II of the standard-gauge railway project linking Kano to Maradi. It will specifically cover rolling stock and operational railway equipment to strengthen transport corridors and improve trade flows and passenger mobility.
The fourth commitment is a 10 million USD grant for the pilot phase of the West Africa Initiative for Climate-Smart Agriculture (WAICSA). This multi-country program covers Ghana, Senegal, and Togo. Its objective is to promote climate-adaptive farming techniques and expand rural actors’ access to financing.
Alignment with the GRO 2026-2030 Strategy and SDGs
These interventions align with the implementation of the BoI’s Growth, Resilience, and Optimization (GRO) 2026-2030 Strategy. They contribute to several Sustainable Development Goals, including poverty eradication (SDG 1), food security (SDG 2), economic growth and employment (SDG 8), industrial infrastructure (SDG 9), and climate action (SDG 13).
« support productive activities, strengthen regional value chains, and facilitate trade exchanges »
According to the bank’s president, these operations also aim to stimulate private-sector engagement and create jobs across the West African region.
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Sources
The facts in this article come from the following sources:
- 1La BIDC approuve 390 millions USD pour des investissements stratégiques en Afrique de l’ouestBIDC · 30 September 2026 official source
- 2La BIDC approuve 390 millions de dollars pour 4 projets en Afrique de l'Ouest24 Heures au Bénin · 30 September 2026
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