"EBID records strong growth despite global economic pressures" – Dr. Ato Forson

The Minister of Finance and Chairman of the Board of Governors of the ECOWAS Bank for Investment and Development (EBID), Dr. Cassiel Ato Forson, has lauded the Bank’s resilience and strong performance in 2025 despite a challenging global economic environment.

Speaking at the 24th Ordinary Session of the EBID Board of Governors held in Accra on April 8, 2026, Dr. Forson noted that the global economy last year was shaped by widening disparities in growth, driven partly by heavy investments in artificial intelligence in advanced economies, as well as ongoing geopolitical tensions and trade uncertainties.

According to him, these developments created what has been described as a “steady but narrow” global growth path, with uneven benefits across regions, posing significant challenges for West African economies and financial institutions like EBID.

“Despite these headwinds, EBID did not just weather the storm—we rose above it,” he stated, attributing the Bank’s success to strong governance, effective oversight, and the dedication of its management and staff.

Dr. Forson disclosed that EBID’s balance sheet expanded significantly from US$1.97 billion in 2024 to US$2.39 billion by the end of 2025, reflecting increased operational scale.

Profitability also improved, rising by 13.3 percent from US$8.55 million to US$9.75 million within the same period.

He further revealed that project approvals surged by 50 percent, while commitments jumped by over 83 percent to US$813.77 million, with a strong focus on critical sectors such as energy and transport infrastructure.

The Finance Minister added that the Bank successfully mobilised over US$510 million and €310 million, which were fully deployed into priority projects, alongside an additional US$100 million in capital mobilisation.

Highlighting key institutional milestones, Dr. Forson said EBID maintained its credibility on the international stage, with Moody’s Investors Service and Fitch Ratings reaffirming its ratings at B2-Stable and B-Stable, respectively.

He also pointed to the Bank’s accreditation with the Green Climate Fund as a major achievement, opening new avenues for climate financing to support member states.

Dr. Forson, however, expressed concern over delays in capital contributions by member states, revealing that only Ghana, Côte d’Ivoire, Guinea, and Togo have fully met their obligations under the agreed capital increase programme.

He noted that although US$102.5 million was received in 2025, outstanding arrears still stand at approximately US$256 million.

“Timely capital payments are critical. They strengthen EBID’s leverage and sustain its growth and impact across our region,” he stressed, urging member states to demonstrate renewed commitment in meeting their financial obligations.

Dr. Forson concluded by calling for decisive and united action among stakeholders, emphasizing that the future of EBID and the region’s economic transformation depends on bold decisions and collective responsibility.

He also expressed appreciation to the President of EBID, Dr. George Agyekum Donkor, and his team for their steadfast leadership and commitment to the Bank’s vision.

Story by: Joshua Kwabena Smith