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ECOWAS Bank to focus on economic growth

July 28, 2015, 9:41 a.m.

The ECOWAS Bank for Investment and Development (EBID) has promised to grow the economies and create jobs in the sub-region. The EBID President, Bashir Ifo said everything will be done to lift the people out of poverty and transform their economic situation. Evidence of this, he said could be seen from the bank’s assistance in areas of infrastructure, agriculture and private sector development.

Since it began operation in 2004, it has made available a total of $1.77 billion towards the implementation of 177 projects in the member states, a facts sheet detailing the operations of the bank has said.

EBID has agreed to give a $ 20 million credit facility towards the construction of an ultra-modern shopping mall that would serve as a one-stop shop in Kumasi. The signing of the loan agreement preceded the official launch of the project which will be executed in two phases.

Disclaimer : The views expressed in this news report do not necessarily reflect those of the National Development Planning Commission