Taraba State and ECOWAS Bank Sign $268M Loan Agreement

The Taraba State Government, led by Governor Agbu Kefa, signed a $268 million loan agreement with the ECOWAS Bank to enhance investment in the state. The financing package includes three strategic interventions: $91.23 million for an integrated industrial park, $79.21 million to develop 10,000 hectares of irrigated rice paddies with a modern milling facility, and $98.19 million for a 50 MW solar photovoltaic plant in Jalingo.

This agreement aims to strengthen food security, reduce reliance on rice imports, and improve access to clean energy. Dr.

Georg Agyekum Donkor, the Chairman of the Board of Directors at ECOWAS Bank, expressed optimism about the project aligning with the bank's growth strategy and its commitment to building resilient economies across West Africa. Governor Kefa described the agreement as a transformative milestone for Taraba State, emphasizing its potential to enhance industrial capacity, food security, and sustainable energy access.