EBID Signs Off On $268M Financing Package for Taraba State in Nigeria

On 26 June 2026, the ECOWAS Bank for Investment and Development (EBID) signed off on a loan to the benefit of Taraba State in Nigeria to the tune of USD 268 million. EBID Chair George Donkor and Taraba State Governor Agbu Kefas signed the financing agreement at the bank’s headquarters HQ in Lomé, Togo.

Based on the agreement, the financing package will be utilized for three strategic programs. Firstly, USD 91 million will support the development of Phase I of the new industrial park. Secondly, USD 79 million will be allocated to boost rice production, from land preparation of 10,000 hectares to dehusking and processing. The 3rd tranche of USD 98 million will finance the implementation of a 50-MW solar farm in Jalingo.

In his speech, EBID Chair Donkor underlined that the financing is aligned with the bank’s GRO (Growth, Resilience and Optimization) strategy. The projects all met the criteria of creating a positive impact for local communities and foster sustainable development goals (#SDG).

On his part, Governor Kefas highlighted that the financing will support the economic transformation of Taraba State by fostering industrialization, enhancing food security and accelerating the energy transition.