Ato Forson elected Chairman of ECOWAS Bank for Investment and Dev’t

Ghana’s Finance Minister, Dr. Cassiel Ato Forson, has been elected Chairman of the ECOWAS Bank for Investment and Development (EBID). This announcement was made during the 23rd Annual General Meeting in Banjul, Gambia. Although Dr. Forson could not attend, Deputy Minister Thomas Nyarko Ampem delivered his message.

Ampem conveyed warm greetings from Ghana's government and people. He expressed Dr. Forson’s humility and gratitude for this honor. Dr. Forson acknowledged the significant responsibility of his new role. He pledged Ghana’s commitment to EBID's mission.

He thanked fellow Governors for their trust in Ghana’s leadership. He emphasized the importance of support and collaboration in the coming year.

A Strategic Vision for EBID’s Future

Dr. Forson outlined a strategic vision focusing on four key areas:

1. Strengthening resource mobilization for regional development initiatives.
2. Improving capital recovery through better asset management.
3. Facilitating non-regional membership to expand investment partnerships.
4. Positioning EBID as West Africa's premier Development Finance Institution.

He noted that challenges in the sub-region also present opportunities for growth. With collaboration, EBID can help build a prosperous West Africa.

Dr. Forson praised Dr. George Agyekum Donkor, President of EBID, and his team for their efforts in regional integration and economic development.

Outgoing chairman Hon. Seedy Keita expressed gratitude for serving as Chair of the Board. He offered full support to Dr. Forson and highlighted EBID’s role in promoting economic development among ECOWAS member states.

About EBID: A Pillar of Regional Development

The ECOWAS Bank for Investment and Development (EBID) is a key development finance institution within ECOWAS, which includes 15 member countries. Established as the ECOWAS Fund in 1975, it became EBID in 1999.

Headquartered in Lomé, Togo, EBID supports both public and private sector needs. Since restructuring into a single-window institution in 2007, it has financed transformative projects across the region.

Ghana is a major beneficiary of EBID's support, with total commitments around $408 million funding 24 active projects across various sectors like finance, energy, and infrastructure.

Notable projects include partnerships with Consolidated Bank Ghana, Access Bank Ghana PLC, Tema LNG Terminal, and Marriott Hotel.