Business / Agribusiness International

Dr. Donkor Re-appointed as President of ECOWAS Bank for Investment and Development (EBID)

Dr. Donkor Re-appointed as President of ECOWAS Bank for Investment and Development (EBID)

Dr George Agyekum Nana Donkor has been re-appointed as President of the ECOWAS Bank for Investment and Development (EBID) for a second term of five years, starting on February 1, 2024.

The unanimous decision was made by the Board of Governors, comprising the Ministers of Finance and/or Economic Planning of the 15 ECOWAS member states, during their 21st Ordinary Session held on April 5, 2023.

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Dr Donkor’s re-appointment was based on the significant progress made by the Bank under his leadership since he assumed office in January 2020.

Notable achievements include a reduction in the Bank’s non-performing loans ratio from over 8% to 4.28%, recovery of USD 77.5 million in capital arrears, a 36.8% balance sheet growth in 2022, two successful debenture issuances on the UEMOA market, and an improved quality of the Bank’s portfolio.

The Board of Governors also expressed satisfaction with the Bank’s improved credit rating, currently B2 with a stable outlook by both Moody’s and Fitch Rating Agencies, despite the challenging global economic context due to the Covid-19 pandemic and the Ukraine-Russia crisis.

Dr Donkor was described by the Board of Directors as a man of impeccable professional credentials and a pragmatic leader who has implemented several commendable initiatives at the Bank that have yielded positive outcomes.

In his response, Dr Donkor pledged to continue working with the Ministers and the Board to establish EBID as the leading financial institution in the region and support member states’ socio-economic development.

EBID is a regional investment and development bank owned by the 15 ECOWAS member states and based in Lomé, Togolese Republic.

The Bank finances developmental projects and programmes across various sectors, including infrastructure, rural development, environment, industry, and social services through its private and public sector windows.

EBID provides long, medium, and short-term loans, equity participation, lines of credit, refinancing, financial engineering operations, and related services.

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