ECOWAS Bank for Investment and Development Boosts Ghanaian Economy with $200 Million Injection


The ECOWAS Bank for Investment and Development (EBID) has reinforced its commitment to fostering economic growth and resilience in the Republic of Ghana with a $200 million investment. Apexnewsgh reports

This significant injection is aimed at stimulating the growth of Small and Medium Enterprises (SMEs) in critical sectors, creating jobs, driving innovation, and promoting sustainable development.

The investment is part of a strategic alliance between EBID, the Ghana Export-Import Bank (GEXIM), and GCB Bank PLC, as outlined in a Memorandum of Understanding (MOU) signed by Dr. George Agyekum Donkor, President and Chairman of the Board of Directors of EBID, and Dr. Mohammed Amin Adam, Minister for Finance of the Republic of Ghana. The signing ceremony was attended by key stakeholders, including Mr. Lawrence Agyinsam, CEO of GEXIM, and Mr. Samuel Aidoo, Executive Director of Wholesale and Investment Banking at GCB Bank PLC.

Dr. Donkor commended Ghana for its steadfast support and emphasized the tripartite alliance’s strategic significance in channeling vital resources into pivotal sectors of the economy. He highlighted EBID’s commitment to forging partnership synergies within the finance and investment domain, serving as a model for future regional collaborations and investments.

Dr. Amin Adam underscored the importance of organizations like EBID in driving sustainable transformation, especially amidst global challenges. He praised EBID’s profound impact under Dr. Donkor’s leadership and expressed optimism regarding the Bank’s continued role in shaping the region’s developmental agenda.

This $200 million injection brings EBID’s total commitments in Ghana to $600 million, demonstrating the Bank’s dedication to fostering economic growth and resilience across ECOWAS Member States. Chidozie Stephen

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Ngamegbulam C. S

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