Lomé, Togo – May 27, 2024
The President of the ECOWAS Bank for Investment and Development (EBID), Dr. George Agyekum Donkor, used the occasion of the 49th anniversary of the Economic Community of West African States (ECOWAS) to urge member states to embrace innovation in the face of global challenges.
“This year’s theme, ‘Enhancing Regional Unity, Peace and Security,’ reflects the founding fathers’ vision of a cooperative West Africa,” Dr. Donkor said in a message. He highlighted the importance of pooling resources, strategic partnerships, and leveraging geographical advantages for regional development.
The ECOWAS anniversary commemorates the signing of the treaty establishing the economic union in Lagos, Nigeria, in 1975. The organization currently has 15 member states working towards a “borderless, peaceful, and prosperous sub-region.”
EBID, as part of its mandate, has invested heavily in key sectors like energy, agriculture, and infrastructure, committing over $4.19 billion to various projects as of December 2023.
Dr. Donkor acknowledged the complex global economic landscape and its impact on West Africa, citing volatile commodity prices and other challenges. However, he emphasized resilience, quoting Mahatma Gandhi: “Adversity is the mother of progress.” He called on member states to use these difficulties to develop innovative solutions for a stronger sub-region.
The message concluded with a celebratory call: “Long live ECOWAS! Long Live EBID!”
