The President of the ECOWAS Bank for Investment and Development (EBID), Dr. George Agyekum Donkor, has stated that the bank will allocate at least 63% of its total commitments to private sector development under its new five-year strategic plan.
Speaking at the 24th Annual General Meeting of the ECOWAS Bank for Investment and Development, Dr. Donkor said the 2026–2030 Growth, Resilience and Optimization (GRO) Strategy is designed to accelerate job creation and innovation across the sub-region.\
“We aim to direct at least 63% of the commitments towards private enterprises to catalyse job creation and innovation,” he stated.
He explained that the strategy is anchored on three pillars growth, resilience and optimisation—and will position the bank as a leading development finance institution capable of addressing West Africa’s socio-economic challenges.
Dr. Donkor added that sustainability will be central to the bank’s operations under the new plan.
“The bank will embed environmental, social and governance principles across its operations, dedicating over 41% of resources to climate mitigation and social inclusion projects,” he said.
To support the ambitious agenda, the EBID President disclosed that the bank plans to mobilise about $2 billion through diversified funding sources, including capital markets, bond issuances and new non-regional investors.
“To finance this ambitious agenda, the bank will mobilise approximately US$2 billion through diversified funding sources,” he noted.
Highlighting recent achievements, Dr. Donkor said the bank had maintained stable credit ratings despite a difficult operating environment, with a recent upgrade signaling renewed investor confidence.
“Just about a week ago, Fitch Ratings upgraded the bank’s rating from B stable to B positive,” he revealed.
He also pointed to key institutional milestones, including accreditation from the Green Climate Fund and certification under the European Union’s nine-pillar framework, which allows the bank to manage EU funds with reduced oversight.
As part of its regional expansion, EBID has opened a new office in Abidjan and will establish another in Abuja in 2026 to improve project delivery and client engagement.
Dr. Donkor further disclosed ongoing plans to bring in strategic partners such as the African Development Bank and the Arab Bank for Economic Development in Africa.
“This will be a game-changer for the bank,” he said.
He expressed optimism about the institution’s future, noting that the strategy would strengthen resilience and drive inclusive growth across member states.
“We will not only navigate the complexities ahead, but will collectively transform the challenges of today into the enduring prosperity of tomorrow,” he noted.
SOURCE: CITI NEWSROOM
