The ECOWAS Bank for Investment and Development (EBID) and the Taraba State Government have signed three landmark loan agreements totalling $268 million.
The agreements were executed at EBID headquarters by the President and Chairman of the Board of Directors of EBID, George Agyekum, and Governor of Taraba State, Agbu Kefas, who led a high-level delegation of government officials, technical advisers, and development partners.
The financing package comprises three strategic interventions.
The sum of $91.23 million is for phase one of an integrated industrial park, a multi-cluster logistics and manufacturing hub designed to attract private investment, stimulate value addition, and create jobs.
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The package includes $79.21 million to develop 10,000 hectares of irrigated rice paddies and a modern milling and processing facility, strengthening food security and reducing dependence on imported rice.
It also includes $98.19 million to finance a 50 megawatt solar photovoltaic plant in Jalingo, improving grid reliability, expanding access to clean energy, and supporting industrial growth.
The projects align with EBID’s Growth, Resilience and Optimisation (GRO) strategy, which prioritises investments that deliver measurable economic, social, and environmental impact across its member states.
Governor Kefas described the agreements as a transformational milestone for Taraba State.
”This financing, secured through our partnership with EBID, lays the foundation for economic transformation by strengthening industry, enhancing food security, and expanding access to reliable, sustainable energy for the people of Taraba State,” he said.
Donkor stated that by investing simultaneously in industrial infrastructure, agricultural value chains, and renewable energy, EBID is delivering an integrated development package with lasting regional impact.
”This partnership reflects our commitment to building resilient and competitive economies across West Africa,” he stated.
The projects are expected to position Taraba as a leading industrial and agricultural hub in Nigeria while supporting the transition to a lower-carbon economy.
For EBID, the agreements further reinforce its role as a leading regional development finance institution advancing sustainable infrastructure and economic transformation across West Africa.
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