Banjul: Dr Cassiel Ato Forson, Ghana's Finance Minister, has been elected Chairperson of the Board of Governors of the ECOWAS Bank for Investment and Development (EBID). The Finance Ministry in a statement copied to the Ghana News Agency said Dr Forson's election was announced during the 23rd Annual General Meeting of the EBID Board of Governors, held in Banjul, The Gambia. Although Dr Forson could not attend the meeting in person, his message of appreciation and vision was delivered by Mr Thomas Nyarko Ampem, the Deputy Minister of Finance.
According to Ghana News Agency, Mr Ampem expressed Dr Forson's humility and appreciation for the honor. He acknowledged the responsibility that comes with the role and pledged Ghana's dedication to EBID's mission. Dr Forson's message highlighted the trust placed in Ghana's leadership and his reliance on the support and collaboration of fellow governors.
Dr Forson's strategic vision for EBID focuses on four key areas: Strengthening Resource Mobilization, Improving Capital Recovery, Facilitating Non-Regional Membership, and Positioning EBID as a premier Development Finance Institution in West Africa. He emphasized that regional challenges also present opportunities for transformation and growth, and with collaborative effort, EBID could significantly contribute to building a prosperous and integrated West Africa.
Dr Forson commended Dr. George Agyekum Donkor, President of EBID, and his team for advancing the institution's goals. Outgoing Chairperson, Mr Seedy Keita, expressed gratitude for his tenure and extended support to Dr Forson, emphasizing EBID's role in promoting economic development among ECOWAS member states.
The ECOWAS Bank for Investment and Development (EBID) is the development finance institution of the Economic Community of West African States (ECOWAS), comprising 15 member countries. Initially established as the ECOWAS Fund in 1975, it became EBID in 1999, evolving into a bank serving both public and private sector needs. Headquartered in Lom©, Togo, EBID has been vital for regional integration and sustainable economic growth, especially since its restructuring in 2007.
EBID continues to finance transformative projects across the region, with Ghana as a key beneficiary. The Bank's total commitment to Ghana is approximately $408 million, supporting 24 active projects in sectors such as finance, energy, and infrastructure, including partnerships with Consolidated Bank Ghana, Access Bank Ghana PLC, Tema LNG Terminal, and Marriott Hotel.
