Ato Forson Urges ECOWAS States to Honour EBID Capital Commitments
The Chair of the Board of Governors of the ECOWAS Bank for Investment and Development (EBID), Dr Cassiel Ato Forson, has called on ECOWAS member states to fulfil their financial obligations to bank, warning that delays could undermine the bank’s growth.
Ghana’s Minister for Finance made the appeal during the 24th Ordinary Session of the Board of Governors in Accra.
Dr Forson recalled a key 2022 decision, stating that “it was agreed that EBID’s authorised capital should increase… to US$3.4 billion,” alongside “a call for the third tranche of subscriptions amounting to US$411.4 million.”
He noted that the agreed deadline for full payment was December 2025.
However, he expressed concern over low compliance, revealing that “only four Member States, namely, Ghana, Côte d’Ivoire, Guinea, and Togo, have fully met their obligations.”
Dr Forson therefore urged member states to act decisively, declaring, “in light of the missed December 2025 deadline, I urge all Member States to act with renewed commitment in fulfilling their obligations to the Bank.”
Source: JoyNews
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