Ato Forson Elected Chairman of ECOWAS Bank for Investment and Development
Banjul, The Gambia - 15 April, 2025 - Ghana's Finance Minister, Dr. Cassiel Ato Forson, has been elected Chairman of the Board of Governors of the ECOWAS Bank for Investment and Development (EBID).
Dr. Forson was elected during the 23rd Annual General Meeting held in Banjul, Gambia, and was represented at the meeting by Deputy Minister for Finance, Hon. Thomas Nyarko Ampem.
Dr. Forson outlined his vision for EBID, which includes strengthening resource mobilization to ensure the bank is adequately financed to meet member states' development aspirations.
He also aims to improve capital recovery by enhancing asset management and operational efficiency, facilitate non-regional membership to diversify partnerships and investment base, and position EBID as West Africa's premier development finance institution capable of driving transformative impact across the region.
The Finance Minister, in a social media post, emphasized that his priorities reflect the collective ambition to build a more integrated and prosperous West Africa. He commended EBID President, Dr. George Agyekum Donkor, and his team for their efforts in advancing regional integration and economic development.
Dr. Forson also thanked his predecessor, Hon. Seedy Keita, for his leadership and contributions to the Bank.
As Chairman, Dr. Forson pledged Ghana's unwavering commitment to EBID's mission and mandate, emphasizing the importance of collaborative effort and renewed dedication in achieving the vision of a self-reliant and economically empowered West Africa.
'' I express my heartfelt appreciation to my esteemed colleagues on the Board for the confidence reposed in me. This appointment is not only a personal honour but also a significant responsibility—one I embrace with humility and determination. As Chairman, I look forward to working closely with all stakeholders to chart a path of resilience, innovation, and inclusive growth for our sub-region.
''My vision for EBID rests on four key pillars: 1. Strengthening Resource Mobilization – to ensure that EBID is adequately financed to meet the development aspirations of our member states; 2. Improving Capital Recovery – by enhancing asset management and operational efficiency; 3. Facilitating Non-Regional Membership – to diversify our partnerships and investment base; 4. Positioning EBID as West Africa’s Premier Development Finance Institution – capable of driving transformative impact across the region and beyond. These priorities reflect our collective ambition to build a more integrated and prosperous West Africa.
''While our region faces complex challenges, these challenges present us with the opportunity to think boldly and act decisively. I wish to commend Dr. George Agyekum Donkor, President of EBID, and his capable team for their tireless efforts in advancing regional integration and economic development. Their work continues to lay a strong foundation for the future of our institution. I also thank my predecessor, Hon. Seedy Keita, for his exemplary leadership and contributions to the Bank. I am grateful for his support and the legacy he leaves behind, which I intend to build upon.
''I assure all member states of Ghana’s unwavering commitment to EBID’s mission and mandate. Together, we can realize the vision of a self-reliant, integrated, and economically empowered West Africa,'' he wrote on his X account (formerly Twitter).
EBID, established in 1999 as the financial arm of ECOWAS, serves as the development finance institution of the Economic Community of West African States, encompassing 15 member countries.
Source: Lead News Online
