West Africa secures over $1 bn in new development financing
The African Development Bank’s 2026 regional report warns that West Africa needs $90‑100 bn a year to meet development goals, but the main obstacle is the inability to convert abundant savings into productive credit.
The ECOWAS Investment Bank (BIDC) approved a package of more than $510 m for projects in Guinea, Ghana and Sierra Leone, including 84 km of roads, a 200‑bed hospital, a hydro‑electric plant and a $150 m credit line for transport works.
The World Bank announced a new financing envelope of 340 bn FCFA (about $580 m) for Senegal, adding to its existing $1.19 bn portfolio in the country, to support agriculture, transport and resilience programmes. Senegal’s government also earmarked 7.2 bn FCFA for emergency food‑security measures.
World Bank Vice‑President Ousmane Diagana began a visit to Mauritania to strengthen the 2026‑2030 partnership framework, discussing economic diversification, job creation and infrastructure development with President Mohamed Ould Cheikh El Ghazouani and other officials.
Entities: African Development Bank · Ahmadou Al Aminou Lo · Banque d'Investissement et de Développement de la CEDEAO · Conseil national de sécurité alimentaire · Direction de l’Élevage · Fonds de solidarité nationale · Mauritania · Senegal · World Bank