Cassiel Ato Baah Forson, the Minister of Finance, has urged ECOWAS Bank for Investment and Development (EBID) member nations to bolster their dedication to the organization by fulfilling unfulfilled financial commitments in order to maintain its expansion and regional influence.
On behalf of President John Dramani Mahama, Dr. Forson welcomed attendees to the 24th Ordinary Session of the Board of Governors in Accra and thanked Ghana for the chance to serve as the Board’s chair for the previous year.
He praised the Bank’s leadership, especially its President George Agyekum Donkor, for guiding the organization through a difficult international economic climate characterised by trade uncertainty, geopolitical tensions, and uneven growth dynamics.
The Finance Minister pointed out that EBID demonstrated resilience and strategic focus in 2025 by recording strong financial and operational success despite these obstacles.
He states that the Bank’s profitability rose from 8.55 million to 9.75 million US dollars, a 13.3 percent rise, while its balance sheet grew from 1.97 billion US dollars in 2024 to 2.39 billion US dollars in 2025.
He said that investments in energy and transport infrastructure were the main drivers of the 50% increase in project approvals and the over 83% increase in pledges to 813.77 million US dollars.
Dr. Forson also emphasised the Bank’s expanding catalytic role, pointing out that it raised an additional 100 million US dollars in capital mobilisation in addition to around 510 million US dollars and 310 million euros to assist important initiatives.
He also cited significant institutional achievements, such as EBID’s accreditation with the Green Climate Fund, the establishment of a regional office in Abidjan, and the reaffirmation of its credit ratings by Moody’s and Fitch Ratings.
Only Ghana, Côte d’Ivoire, Guinea, and Togo had fulfilled their commitments under the third tranche of subscriptions agreed upon in 2022, according to the Minister, who voiced concern over member state capital contribution delays.
He revealed that even if 102.5 million US dollars were collected in 2025, there are still over 256 million US dollars in outstanding arrears.
Dr. Forson emphasised that prompt capital payments are essential to enhancing the Bank’s ability to fund innovative development initiatives and promote equitable economic growth in the subregion.
He emphasised that growing EBID’s financial base is crucial to maintaining its influence and called on member states to show renewed dedication.
In order to influence the Bank’s and the West African region’s future, the Finance Minister urged attendees to participate in important discussions at the summit, stressing the necessity of audacious choices and teamwork.
In addition, he expressed the hope that the delegates’ stay would be both fruitful and unforgettable and urged them to learn about Ghana’s culture and legacy.
FULL SPEECH FROM THE FINANCE MINISTER BELOW:
Source: newsthemegh.com