Ghana’s Finance Minister and current Chair of the Board of Governors of the ECOWAS Bank for Investment and Development (EBID), Dr Cassiel Ato Forson, has lauded the bank for its resilience, strategic achievements, and growing role in regional development, during the 24th Annual General Meeting of the Board of Governors, held on Wednesday, April 8, 2026, at the Mövenpick Ambassador Hotel in Accra.
Speaking at the opening of the session, Dr Forson extended a warm welcome to Governors and participants on behalf of President John Dramani Mahama and the government and people of Ghana.
He expressed gratitude for the trust placed in Ghana to chair the Board of Governors over the past year, and commended the bank’s management, led by Dr George Agyekum Donkor, for their dedication and professionalism.
Dr Forson contextualised EBID’s operations within the challenging global economic environment of 2025, describing a period characterised by what has been termed the “Great Wedge” – a divergence in global growth dynamics driven by significant investments in artificial intelligence in some regions, alongside ongoing trade volatility and heightened geopolitical tensions elsewhere.
He noted that these factors resulted in uneven growth, inflationary pressures, and fiscal vulnerabilities across EBID Member States.
Despite these challenges, he emphasised that EBID had not merely endured but excelled, strengthening its role as a catalyst for regional development. Key financial and operational highlights of 2025, he noted, included:
- Growth of the Bank’s balance sheet from US$1.97 billion in 2024 to US$2.39 billion at the end of 2025.
- Profitability rising from US$8.55 million to US$9.75 million, marking a 13.3 per cent increase.
- A 50 per cent increase in project approvals and over 83 per cent surge in project commitments, totalling US$813.77 million, focused on energy and transport infrastructure.
- Mobilisation of over US$510 million and €310 million, fully deployed to priority projects, alongside an additional US$100 million in capital mobilisation.
Dr. Forson also highlighted strategic milestones achieved by EBID in 2025, including reaffirmation of credit ratings by Moody’s and Fitch at B2-Stable and B-Stable, accreditation with the Green Climate Fund, and the opening of the Bank’s Abidjan Regional Office, which enhances project delivery and strengthens regional engagement.
Turning to governance matters, the Finance Minister reminded Member States of the 2022 decision to increase EBID’s authorised capital to US$3.4 billion and the call for the third tranche of subscriptions amounting to US$411.4 million, with a December 2025 deadline.
To date, only Ghana, Côte d’Ivoire, Guinea, and Togo had fully met their obligations, leaving US$256 million in arrears.
He urged all Member States to honour their commitments, stressing that timely capital payments are crucial to sustaining EBID’s growth, leverage, and development impact.
“Expanding our capital base is essential to financing transformative development projects and promoting inclusive economic growth in all Member States,” Dr. Forson said.
He called on Governors to engage rigorously during the AGM, asserting that the future of EBID will be determined by the decisions made in Accra and the actions implemented thereafter.
“Let us be bold in our thinking, decisive in our actions, and united in our purpose. The future we seek will only be built through deliberate and collective action,” he urged.
Dr. Forson expressed appreciation for the continued support of Member States and invited delegates to explore the rich culture and heritage of Ghana during their visit.
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