Finance Minister and Chairman of the Board of Governors of the ECOWAS Bank for Investment and Development (EBID), Dr. Cassiel Ato Forson, has called on member states to urgently fulfil outstanding capital obligations to strengthen the Bank’s capacity to drive regional development.
Delivering his welcome address at the 24th Ordinary Session of the Board of Governors held in Accra, he indicated that EBID’s balance sheet expanded from US$1.97 billion in 2024 to US$2.39 billion in 2025, while profitability rose by 13.3% to US$9.75 million.
Project approvals increased by 50%, with commitments surging by over 83% to US$813.77 million, largely driven by investments in energy and transport infrastructure.
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The Bank also mobilised over US$510 million and €310 million to support priority projects across the region, reinforcing its catalytic role in development financing.
Despite these gains, Dr. Forson raised concerns over delays in capital contributions by member states. He recalled a 2022 Board decision to increase EBID’s authorised capital to US$3.4 billion and a subsequent call for a third tranche of subscriptions amounting to US$411.4 million, which was due by December 2025.
He disclosed that only four countries – Ghana, Côte d’Ivoire, Guinea, and Togo – have fully met their obligations, leaving outstanding arrears of approximately US$256 million.
Dr. Forson stressed that timely capital payments are essential to enhancing the Bank’s leverage, sustaining growth, and expanding its ability to finance transformative projects across West Africa.
He also pointed to key institutional milestones, including EBID’s reaffirmed credit ratings by Moody’s and Fitch, as well as its accreditation with the Green Climate Fund, which opens new avenues for climate financing.
The opening of the Bank’s Abidjan Regional Office, he said, marks a significant step in deepening regional engagement and improving project delivery.
Dr. Forson expressed appreciation to delegates and reaffirmed Ghana’s commitment to advancing the objectives of the sub-regional financial institution.
He commended the leadership of EBID President George Agyekum Donkor and staff for their resilience and dedication, noting that the Bank delivered strong financial and operational results despite global economic uncertainties.
He urged delegates to approach deliberations with urgency and unity, emphasising that decisions taken at the meeting will shape the future of the Bank and the broader West African economy.