Lomé, Togo – May 15, 2024
The ECOWAS Bank for Investment and Development (EBID) announced a $200 million injection into the Ghanaian economy, aiming to fuel the growth of small and medium-sized businesses (SMEs). This commitment strengthens EBID’s existing partnership with Ghana and marks a significant step towards promoting regional economic development.
The agreement was signed during a ceremony at EBID headquarters in Lomé, Togo. Dr. George Agyekum Donkor, President of EBID, and Dr. Mohammed Amin Adam, Ghana’s Minister of Finance, signed the Memorandum of Understanding (MOU) in the presence of key stakeholders from both sides.
This $200 million will be channeled through strategic partnerships with Ghana Export-Import Bank (GEXIM) and GCB Bank PLC. These funds are expected to stimulate growth in critical sectors of the Ghanaian economy, fostering job creation, innovation, and sustainable development.
“This tripartite alliance exemplifies EBID’s strategic focus on supporting the recovery and transformation of member states,” said Dr. Donkor. “By channeling resources into vital sectors, we aim to empower SMEs, which are the backbone of any thriving economy.”
Ghanaian Finance Minister, Dr. Adam, commended EBID’s role in driving regional development, particularly during challenging global times. He expressed optimism about EBID’s continued contribution to shaping a prosperous future for West Africa.
