The ECOWAS Bank for Investment and Development (EBID) has reiterated its commitment to advancing regional development and economic integration through strategic investments across West Africa.
Speaking on behalf of the Bank’s President at the 2025 First Ordinary Session of the ECOWAS Parliament in Abuja, EBID’s Director of Research and Strategic Planning, Mr. MacDonald Saye Goanue, highlighted the Bank’s alignment with ECOWAS Vision 2050. He emphasized priorities such as economic resilience, social inclusion, and sustainable development.
According to Goanue, EBID has disbursed over $2.5 billion across more than 300 projects in critical sectors—including infrastructure, energy, agriculture, education, health, and digital transformation—since its inception. In 2024 alone, the Bank approved 10 new projects valued at approximately $439.74 million, with 21 others under assessment for future funding.
Among the flagship initiatives spotlighted:
Cross-border electricity interconnection between Mali and Côte d’Ivoire
Solar electrification of 750 rural facilities in Benin
Construction of a strategic bridge near Senegal’s Blaise Diagne International Airport
Goanue also noted the Bank’s growing support for micro, small, and medium-sized enterprises (MSMEs) and enhanced partnerships in agro-processing and manufacturing. Although the Bank’s loan disbursement rate dipped slightly—from 21.58% in 2023 to 20.54% in 2024—he attributed this to a strategic realignment for long-term impact.
While parliamentarians commended EBID’s efforts, they called for greater transparency, improved monitoring frameworks, and equitable access to funding across all member states. Goanue underscored the vital role of parliamentary collaboration in achieving a peaceful, prosperous, and integrated West Africa.
Parliament Tightens Internal Rules to Foster Accountability
Meanwhile, the ECOWAS Parliament has adopted a revised set of Rules of Procedure aimed at strengthening internal governance, transparency, and effective representation.
The reforms, presented by Mr. Billay Tunkara—Chair of the Ad Hoc Committee on Rules Review and Fourth Deputy Speaker—were unanimously endorsed by lawmakers during the session.
Key changes include:
Penalties for absenteeism: lawmakers missing over one-third of a session without valid justification risk suspension of sitting allowances
Provisions promoting gender and linguistic balance
Enforcement of decorum and a professional dress code
Prohibition of derogatory language against colleagues and Heads of State
A stricter quorum requirement mandating at least 50 members be present to begin a session
Notably, the Speaker is now barred from participating in debates unless they temporarily hand over the chair to a Deputy Speaker—a move aimed at preserving neutrality.
Tunkara described the reforms as “a necessary step toward deepening democratic culture and reinforcing the credibility of the ECOWAS Parliament.”
By Sandra Udeike and Editing by Daniel Adejo
