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.
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.
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's unwavering dedication to
fostering economic growth and shoring up resilience across the ECOWAS Member
States.
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's strategic thrust to
bolster the recovery and transformation agenda of Member States by channeling
vital resources into pivotal sectors of their economies.
According to him, this collaborative involvement
underscores EBID's commitment to forging partnership synergies within the
finance and investment domain, serving as a trailblazing model for future
regional collaborations and investments.
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's continued role in shaping the region's developmental
agenda.
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’s total commitments in Ghana to USD 600 million.
Source:Classfm