EBID President underscores crucial role of DFIs in facilitating development in Africa

Dr. George Agyekum Donkor, President of the ECOWAS Bank for Investment and Development (EBID), emphasized the critical role of Development Finance Institutions (DFIs) in driving economic growth during a lecture at the University of Development Studies, Tamale.

Speaking on “Shaping Africa’s Development Finance Landscape: Challenges and Prospects,” he highlighted DFIs' capacity to provide long-term financing, especially during economic crises, unlike private credit.

Dr. Donkor underlined DFIs' importance in reviving industries, expanding markets, and attracting investors to untapped sectors.

He praised EBID's pivotal role in financing transformative ECOWAS projects and called for robust governance, risk management, and evaluation mechanisms to enhance DFIs' impact.

The lecture also addressed innovative financing, such as green funds, and strategies to align Africa's development with SDGs and Agenda 2063.