The President of the ECOWAS Bank for Investment and Development (EBID), Dr. George Agyekum Donkor, announced that the bank intends to channel at least 63% of its overall commitments into private sector development as part of its upcoming five-year strategic plan.
Addressing the 24th Annual General Meeting of EBID, Dr. Donkor explained that the 2026–2030 Growth, Resilience and Optimization (GRO) Strategy seeks to stimulate job creation and foster innovation throughout the West African sub-region.
“Our objective is to direct a minimum of 63% of our commitments to private enterprises, promoting employment opportunities and innovative ventures,” he said.
He highlighted that the strategy is built on three key pillars growth, resilience, and optimization and aims to position EBID as a leading development finance institution equipped to tackle socio-economic challenges across West Africa.
Sustainability will form a core part of the bank’s operations under the new plan, Dr. Donkor added.
“The bank will integrate environmental, social, and governance principles across all operations, allocating over 41% of resources to projects focused on climate mitigation and social inclusion,” he noted.
To support this ambitious agenda, the EBID President revealed plans to mobilize approximately $2 billion through a variety of funding sources, including capital markets, bond issuances, and engagement with new non-regional investors.
“About $2 billion will be mobilized from diversified sources to finance this ambitious strategy,” he stated.
Reflecting on recent accomplishments, Dr. Donkor emphasized that the bank has maintained stable credit ratings despite challenging conditions, with a recent upgrade signaling growing investor confidence.
“Just a week ago, Fitch Ratings upgraded EBID from B stable to B positive,” he revealed.
He also highlighted key institutional achievements, such as accreditation from the Green Climate Fund and certification under the European Union’s nine-pillar framework, enabling the bank to manage EU funds with reduced oversight.
As part of its regional growth plans, EBID has launched a new office in Abidjan and intends to establish another in Abuja in 2026 to enhance project delivery and client engagement.
Dr. Donkor further announced ongoing efforts to attract strategic partners, including the African Development Bank and the Arab Bank for Economic Development in Africa.
“This collaboration will be transformative for EBID,” he said.
He expressed confidence in the bank’s future, emphasizing that the strategy would reinforce resilience and foster inclusive growth across member states.
“We aim not only to navigate upcoming challenges but also to turn today’s obstacles into lasting prosperity for the future,” he concluded.