EBID supports Bauchi State's economic transformation with US$91.6 million transport infrastructure facility
The ECOWAS Bank for Investment and Development (EBID) and the Government of Bauchi State, Federal Republic of Nigeria, have signed a financing agreement to support the implementation of the Bauchi State Transport Infrastructure Financing Programme.
EBID, the Economic Infrastructure Development Bank, has partnered with Bauchi State to finance a US$91.63 million transport infrastructure development project. The agreement was signed in Lomé, Togo, by EBID's President and CEO, Dr. George Agyekum Donkor, and Bauchi State's Governor, Senator Bala Abdulkadir Mohammed. The project aims to construct and complete 24 strategic road and bridge projects across the state, enhancing connectivity, market access, and reducing transport costs.
By aligning with Bauchi State's development plan and Nigeria's broader goals, the initiative is expected to generate around 5,000 jobs during construction and 2,000 permanent jobs post-completion. Dr. Donkor emphasized EBID's commitment to transformative infrastructure projects that create jobs and improve living conditions. Governor Mohammed highlighted the significance of the partnership, stressing transport infrastructure's role in attracting investment and boosting economic growth.
This collaboration underscores EBID's role as a regional development finance institution, supporting sustainable growth and economic transformation in alignment with the Bank's GRO Strategy.
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