{"id":183226,"date":"2024-05-16T20:17:01","date_gmt":"2024-05-16T20:17:01","guid":{"rendered":"https:\/\/www.ghanamma.com\/2024\/05\/16\/ecowas-bank-for-investment-and-development-to-inject-200-million-into-ghanaian-economy\/"},"modified":"2024-05-16T20:17:01","modified_gmt":"2024-05-16T20:17:01","slug":"ecowas-bank-for-investment-and-development-to-inject-200-million-into-ghanaian-economy","status":"publish","type":"post","link":"https:\/\/www.ghanamma.com\/2024\/05\/16\/ecowas-bank-for-investment-and-development-to-inject-200-million-into-ghanaian-economy\/","title":{"rendered":"ECOWAS Bank for Investment and Development to inject $200 million into Ghanaian economy \u2013"},"content":{"rendered":"

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The ECOWAS Bank for Investment and Development (EBID) has strengthened its transformative partnership with the Republic of Ghana by committing to inject USD 200 million into the Ghanaian economy through strategic alliances with the Ghana Export-Import Bank (GEXIM) and GCB Bank PLC.<\/strong><\/p>\n

This was contained 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, at a ceremony held at the EBID headquarters in Lome, Togo.<\/p>\n

The EBID in a statement dated May 10, 2024, said the signing ceremony was attended by key stakeholders, including Mr. Lawrence Agyinsam, Chief Executive Officer of GEXIM, and Mr Samuel Aidoo, Executive Director, Wholesale, and Investment Banking at GCB Bank PLC, among others. The agreement epitomises EBID\u2019s unwavering dedication to fostering economic growth and shoring up resilience across the ECOWAS Member States.\u00a0<\/p>\n

In his opening remarks, Dr. Donkor commended Ghana for its steadfast support through the payment of its subscribed share of capital, and other commitments to the bank. He emphasised that the tripartite alliance between EBID, GEXIM, and GCB Bank PLC exemplifies EBID\u2019s strategic thrust to bolster the recovery and transformation agenda of Member States by channelling vital resources into pivotal sectors of their economies. According to him, this collaborative involvement underscores EBID\u2019s commitment to forging partnership synergies within the finance and investment domain, serving as a trailblazing model for future regional collaborations and investments.<\/p>\n

In his response, Dr. Amin Adam highlighted the importance of organisations like EBID in driving sustainable transformation, especially amidst prevailing global challenges. He lauded the profound impact of EBID under the leadership of Dr. Donkor and expressed unwavering optimism regarding the Bank\u2019s continued role in shaping the region\u2019s developmental agenda.<\/p>\n

The USD 200 million injection is intended to stimulate the growth of Small and Medium Enterprises (SMEs) in critical sectors of the economy, foster job creation, innovation, and sustainable development. This injection will bring EBID\u2019s total commitments in Ghana to USD 600 million.<\/p>\n

ECOWAS Bank for Investment and Development (EBID) is the development finance institution of the Economic Community of West African States (ECOWAS) comprising fifteen (15) Member States.<\/p>\n

<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"

The ECOWAS Bank for Investment and Development (EBID) has strengthened its transformative partnership with the Republic of Ghana by committing to inject USD 200 million into the Ghanaian economy through strategic alliances with the Ghana Export-Import Bank (GEXIM) and GCB Bank PLC. 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