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) during the institution’s 23rd Annual General Meeting held in Banjul, The Gambia.
Though absent in person, Dr. Forson’s vision was eloquently delivered by Deputy Finance Minister Thomas Nyarko Ampem, who conveyed the Minister’s appreciation for the honour and outlined Ghana’s commitment to deepening regional economic integration through EBID.
“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”. He noted.
I am deeply honoured to have been elected as Chairman of the Board of Governors of the ECOWAS Bank for Investment and Development (EBID) during its 23rd Annual General Meeting held in Banjul, Gambia.
Although I was unable to attend the meeting in person, I was ably represented… pic.twitter.com/cTYmtA4WE5
— Cassiel Ato Forson(PhD) (@Cassielforson) April 14, 2025In assuming the role, Dr. Forson laid out a four-point strategic agenda aimed at strengthening the Bank’s position as a premier development finance institution in the region:
Enhancing Resource Mobilization: Improving the Bank’s ability to secure capital for regional projects.
Improving Capital Recovery: Through better asset management and operational efficiency.
Welcoming Non-Regional Membership: Broadening the bank’s capital base through strategic global partnerships.
Elevating EBID’s Institutional Reputation: Positioning the Bank as West Africa’s leading development financier.
Dr. Forson emphasized that, despite the sub-region’s current economic challenges, these headwinds offer opportunities for transformation and sustainable growth goals he believes EBID is uniquely positioned to champion.
Ghana remains a significant partner and beneficiary of EBID’s development financing. As of the latest data, EBID has committed approximately $408 million to Ghana, supporting 24 active projects across sectors such as finance, infrastructure, and energy. Key Ghanaian projects backed by EBID include:
Tema LNG Terminal
Marriott Hotel (Accra)
Partnerships with Consolidated Bank Ghana and Access Bank Ghana PLC
These investments underscore the Bank’s critical role in supporting private sector expansion and public infrastructure development in Ghana.
Outgoing chairman Seedy Keita, Gambia’s Minister for Finance and Economic Affairs, extended full support to Dr. Forson and praised EBID’s performance under its current leadership. He stressed the importance of continuity in accelerating regional development, noting that EBID has evolved into a robust institution serving both public and private sector needs across ECOWAS’ 15 member states.
EBID, headquartered in Lomé, Togo, was transformed from the former ECOWAS Fund into a single-window development bank in 2007, consolidating efforts to finance infrastructure, trade, agriculture, and energy projects that promote regional integration and inclusive economic growth.
With Dr. Forson at the helm, EBID is expected to play an even greater role in helping West African economies navigate fiscal challenges, attract sustainable investment, and scale regional development projects. His election not only reaffirms Ghana’s leadership in West Africa’s economic discourse but also signals renewed commitment to leveraging financial tools for impactful regional transformation.
