Dr. Ato Forson Named Chairman of ECOWAS Investment Bank
Ghana’s Minister for Finance Dr. Cassiel Ato Forson has been elected Chairman of the Board of Governors of the ECOWAS Bank for Investment and Development (EBID). The announcement was made during the Bank’s 23rd Annual General Meeting held in Banjul, The Gambia.
Although Dr. Forson could not attend the meeting in person, his message was delivered by Ghana’s Deputy Minister for Finance, Hon. Thomas Nyarko Ampem, who expressed gratitude on behalf of the Government and people of Ghana.
In his remarks, Dr. Forson acknowledged the confidence reposed in him by fellow governors and reaffirmed Ghana’s commitment to the Bank’s mission of advancing regional development.
Dr. Forson outlined a bold four-point strategic vision for his term as Chairman:
1. Strengthening Resource Mobilization: Enhancing the Bank’s capacity to finance critical regional development projects.
2. Improving Capital Recovery: Boosting asset management and operational efficiency to secure long-term sustainability.
3. Facilitating Non-Regional Membership: Expanding the Bank’s investment base by engaging international partners.
4. Positioning EBID as West Africa’s Premier Development Bank: Elevating the institution’s global relevance and leadership role in regional development.
He noted that while West Africa faces pressing economic challenges, it also presents immense opportunities for transformation and inclusive growth. He stressed the need for innovation, collaboration and targeted investment to unlock the region’s full potential.
Dr. Forson took the opportunity to commend the President of EBID, Dr. George Agyekum Donkor and his team for their leadership and commitment to regional progress. He expressed confidence in EBID’s direction and pledged to work closely with all stakeholders to achieve shared goals.
Outgoing Chairman, Hon. Seedy Keita expressed appreciation to his colleagues for their support during his tenure and pledged full support to Dr. Forson. He emphasized the importance of continuity and unity in driving the Bank’s mission forward.
The ECOWAS Bank for Investment and Development (EBID) is the financial arm of the Economic Community of West African States (ECOWAS), composed of 15 member countries. Established in 1975 and restructured in 1999, the Bank supports both public and private sector development, aiming to foster regional integration and economic progress.
Headquartered in Lomé, Togo, EBID has significantly impacted member states through financing major infrastructure, energy and finance projects. In Ghana alone, the Bank has committed approximately $408 million to support 24 active projects, including partnerships with Consolidated Bank Ghana, Access Bank Ghana PLC, Tema LNG Terminal, and Marriott Hotel.
Dr. Ato Forson’s appointment as Chairman of EBID’s Board of Governors marks a significant milestone for Ghana’s leadership in regional finance. With his strategic vision and Ghana’s strong commitment to regional development, EBID is poised to play an even more influential role in shaping West Africa’s economic future.