West African development banks fund major energy and infrastructure projects

Regional financial institutions are deploying significant capital to bolster West African infrastructure, particularly in the energy and agricultural sectors. The ECOWAS Bank for Investment and Development (BIDC) has approved over $400 million for four major projects targeting extractive industries, agriculture, and road infrastructure to promote regional economic integration. Additionally, BIDC has launched preparations for the 2027 ECOWAS Investment Forum in Lomé, aimed at connecting investors with approximately 40 development projects.

In the energy sector, the West African Development Bank (BOAD) is financing critical petroleum infrastructure. BOAD has approved $64.1 million (CFAF 37 billion) to expand the Lomé Petroleum Complex (COMPEL) in Togo, adding 170,000 cubic meters of storage capacity. This expansion is intended to strengthen Togo’s role as a regional fuel hub for landlocked nations such as Burkina Faso, Mali, and Niger.

Furthermore, BOAD has provided $30.3 million (CFAF 17.5 billion) to YATT&CO to facilitate the acquisition of petroleum assets in Benin. This funding will allow the company to expand from fuel distribution into storage, logistics, and downstream activities, responding to shifts in the Beninese fuel market.