Taraba Secures $268.63 Million EBID Financing for Energy, Agriculture and Industrial Projects
By Aga Samuel Imoter, Jalingo
Taraba State has secured a US$268.63 million financing package from the ECOWAS Bank for Investment and Development (EBID) to support renewable energy, agriculture and industrial development projects.The financing agreement was signed in Lomé, Togo, by Governor Agbu Kefas and EBID officials after receiving approval from the bank’s Board of Directors.
According to the state government, the investment will fund three major projects: a 50-megawatt solar photovoltaic power plant, an integrated rice production and processing project, and the first phase of the Taraba Industrial Park.
The projects are expected to improve electricity supply, strengthen food production, expand agro-processing, attract investment and create employment opportunities across the state. Governor Kefas described the agreement as a milestone in Taraba’s economic development, saying it reflects confidence in the state’s investment agenda.
He pledged that the projects would be implemented with transparency, accountability and international best practices to ensure measurable socio-economic benefits. State officials said the financing is expected to strengthen infrastructure, boost internally generated revenue and promote long-term economic growth.
