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

Ghana’s Minister for Finance, Dr. Cassiel Ato Forson, has been elected Chairman of the Board of Governors of the ECOWAS Bank for Investment and Development – EBID.

The announcement was made during the 23rd Annual General Meeting of the Board of Governors, held in Banjul, Gambia.

Though Dr. Forson could not attend the meeting in person, his message of appreciation and vision was delivered with conviction by Deputy Minister for Finance Thomas Nyarko Ampem.

Hon. Ampem began by extending warm greetings from the Government and people of Ghana, expressing Dr. Forson’s deep humility and appreciation for the honour bestowed upon him.

He acknowledged the significant responsibility that comes with the role and pledged Ghana’s unwavering dedication and commitment to the mission of EBID.

“To my fellow Governors, thank you for the trust you have placed in Ghana’s leadership. I will continue to rely on your support and collaboration in the year ahead,”

Dr. Forson’s address laid out a strategic vision focused on four key areas of development for EBID:

1. Strengthening Resource Mobilization to more effectively finance regional development initiatives;
2. Improving Capital Recovery by enhancing asset management and operational efficiency;
3. Facilitating Non-Regional Membership to broaden the bank’s investment base and partnerships;

4. Positioning EBID as the premier Development Finance Institution in West Africa and beyond.

He emphasized that while the sub-region faces significant challenges, these also present opportunities for transformation and growth. With collaborative effort and renewed purpose, EBID can play a critical role in building a prosperous and integrated West Africa.

Dr. Forson further commended Dr. George Agyekum Donkor, President of EBID, and his team for their remarkable work in advancing the institution’s goals for regional integration and economic development.

Outgoing chairman Hon. Seedy Keita expressed his gratitude for the opportunity to serve as Chair of the Board and extended his full support to Dr. Forson.

He emphasized EBID’s pivotal role in promoting economic development among ECOWAS member states and voiced confidence in the new leadership to propel the Bank to greater heights.

The ECOWAS Bank for Investment and Development (EBID) serves as the development finance institution of the Economic Community of West African States (ECOWAS), encompassing 15 member countries. Initially established as the ECOWAS Fund in 1975, the institution was transformed into EBID in 1999 and has since evolved into a unified bank serving both public and private sector needs.

With its headquarters in Lomé, Togo, EBID has been a cornerstone of regional integration and sustainable economic growth, especially since restructuring into a single-window institution in 2007. The Bank continues to finance transformative projects across the region.

Ghana remains a key beneficiary and partner of EBID. As of the latest figures, the Bank’s total commitment to Ghana stands at approximately $ 408 million, supporting 24 active projects across sectors such as finance, energy, and infrastructure.

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