Ghana’s Minister for Finance, Dr. Cassiel Ato Forson, has been elected as the Chairman of the Board of Governors for the ECOWAS Bank for Investment and Development (EBID).
The election took place during the Bank’s 23rd Annual General Meeting in Banjul, Gambia. Representing the Minister, Deputy Finance Minister Thomas Nyarko Ampem accepted the appointment, signaling Ghana’s growing leadership role in regional development finance.
Dr. Forson’s tenure will be guided by a specific roadmap aimed at enhancing the Bank’s impact across the 15 ECOWAS member states. His strategic priorities include:
- Aggressive Resource Mobilization: Increasing the pool of funds available for regional development projects.
- Asset Management: Focusing on capital recovery and boosting operational efficiency within the Bank.
- Global Partnerships: Opening doors for non-regional membership to diversify the Bank’s investment base.
- Institutional Branding: Solidifying EBID’s position as the leading development finance institution in West Africa.
Ghana’s Portfolio with EBID
The appointment comes at a time when Ghana is a primary beneficiary of EBID’s financial interventions. Currently, the Bank has a total commitment of approximately $408 million in Ghana, supporting 24 active projects.
Notable investments include infrastructure and energy partnerships such as the Tema LNG Terminal, as well as credit lines to local financial institutions like Consolidated Bank Ghana and Access Bank Ghana PLC.
Outgoing Chairman Hon. Seedy Keita expressed full confidence in Dr. Forson’s leadership, emphasizing that despite current economic headwinds in the sub-region, the Bank remains the most critical tool for driving inclusive growth and industrialization across West Africa.