EBID president commits to continued support of key sectors in ECOWAS, during ECOWAS Week

Tuesday, 30 May 2023 15:12
EBID president commits to continued support of key sectors in ECOWAS, during ECOWAS Week

(Togo First) - Last week, The ECOWAS Bank for Investment and Development (EBID) celebrated ECOWAS Week. The event, which closed on May 26, was hosted at the Bank’s headquarters, in Lomé. 

The ECOWAS Week gathered key banking leaders who engaged with targeted audiences, including students, media, and financiers, via a webinar, an open house, and a conference that brought together several actors of ECOWAS’ finance industry. The meetings focused on EBID’s actions and achievements targeting the populations, across the Community and its 15 member States.

"It would not be superfluous to say that the future of ECOWAS depends on the BIDC," said George Agyekum Nana Donkor, President of EBID, on May 26. "We will continue to invest in essential sectors for the development of our states (agriculture, energy, infrastructure, health), with a strong emphasis on industrialization," he added.

Since it launched, the EBID, a founding shareholder of Asky Airlines and Ecobank Transnational Incorporated (ETI), has disbursed more than $1.7 billion for more than 200 projects across all ECOWAS countries. The funds, according to available data, were invested in infrastructure (54%) and services (25%). rural development (9%), industry (5%), and social initiatives (5%). 

Besides promoting the EBID, ECOWAS Week underlined the Bank's ongoing commitment to boost the regional economy by providing much-needed funding for essential sectors, demonstrating its pivotal role within the ECOWAS community. The ECOWAS Week also commemorates the establishment of the Community on May 28, 1975.

Octave A. Bruce 

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