The ECOWAS Investment and Development Bank (BIDC) approved global financing of over $101 million Americans in favor of infrastructure projects and strategic initiatives in Sierra Leone and Guinea. These decisions were endorsed during the 94th Council session of administration of the institution, according to an official statement published in the end of the work.

These approvals illustrate, according to the BIDC, the role increasing the number of regional development institutions in taking into account global priorities, ranging from the transition to clean energy to modernization of governance through digital tools. Les selected investments are intended to be targeted, high-impact and repeatable beyond the borders of the subregion.

Chairing the session, the President of the BIDC and its Board of Directors, Dr. George Agyekum Donkor, emphasized the scope strategic approach to these commitments. “These investments are more than regional initiatives; these are concrete action plans to achieve the United Nations Sustainable Development Goals,” he said. According to He, the modernization of energy networks and the institutionalization of a Data-based governance are essential levers for build more resilient, inclusive and sustainable West African economies.

In Sierra Leone, the bank approved the financing of a energy transmission project worth $79.389 million. This initiative aims to build and strengthen a transport network 225 kV and 66 kV electrical system, considered to be a cornerstone of national energy security and a major catalyst for growth industrial plant in the country.