The Board of Governors of the ECOWAS Bank for Investment and Development (EBID) has announced an aggressive new investment agenda for West Africa, alongside the unveiling of its 2026–2030 Growth, Resilience and Optimisation (GRO) Strategy, at the close of its 24th Annual General Meeting (AGM) in Accra.
The high-stakes gathering marks a pivotal moment for the regional development bank, as it seeks to scale up financing for transformative projects and strengthen economic integration across the subregion over the next five years.
At the heart of the AGM’s outcomes is a firm commitment by EBID’s leadership to significantly increase investments across West Africa.
The Board of Governors signaled its intention to deploy incremental capital into priority sectors, reflecting what officials describe as an “accelerated drive” to address development gaps and unlock economic potential.
This renewed investment push is expected to target large-scale infrastructure, agriculture modernization, energy access, and digital transformation—areas widely seen as critical to boosting productivity and competitiveness across ECOWAS member states.
The Board itself—comprising Finance Ministers and, in some cases, Ministers of Planning and Development from all 15 ECOWAS countries—serves as the Bank’s highest decision-making authority.
The presence of ministers from the Alliance of Sahel States (AES), including Burkina Faso and Niger, further underscored a shared commitment to regional cooperation despite shifting political dynamics.
A major highlight of the meeting was the formal endorsement of EBID’s new five-year strategic framework, the GRO Strategy (Growth–Resilience–Optimisation) for 2026–2030.
The strategy is designed to reposition EBID as a leading development finance institution in West Africa, with a sharper focus on delivering measurable impact. It emphasizes:
- Growth through expanded financing of high-impact sectors
- Resilience by integrating climate adaptation and sustainable practices
- Optimisation of internal operations to improve efficiency and results
The GRO Strategy places strong emphasis on climate resilience and private sector engagement, aligning with broader global and regional priorities to mobilize sustainable financing and foster inclusive growth.
Opening the meeting on behalf of President John Dramani Mahama, Presidential Advisor Seth Terkper reiterated Ghana’s steadfast backing of EBID’s mandate.
He highlighted the Bank’s critical role in fostering sustainable economic progress and resilience, particularly at a time when West African economies face mounting challenges ranging from climate shocks to fiscal constraints.
The President and Chairman of EBID’s Board of Directors, George Agyekum Donkor, used the platform to commend the outgoing Chairman of the Board of Governors, Ato Baah Forson.
Donkor praised Forson’s leadership and strategic foresight, noting that his tenure helped consolidate EBID’s position as a key driver of sustainable development finance in the region.
“We are deeply grateful for the dedication displayed by Honourable Dr Ato Forson and the progress achieved under his guidance,” he said.
Donkor also presented the Bank’s financial and operational performance for the 2025 fiscal year, describing it as strong and indicative of EBID’s readiness to scale up its activities under the new strategy.
In a unanimous decision, the Board appointed Ismael Nabe, Guinea’s Minister of Planning, Development and International Cooperation, as the new Chairman of the Board of Governors.
His appointment comes at a critical juncture, as EBID prepares to implement its ambitious investment program and strategic roadmap.
The outcomes of the 24th AGM signal a decisive shift toward more proactive and large-scale development financing by EBID.
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