The President and Board Chairman of the ECOWAS Bank for Investment and Development (EBID), Dr George Agyekum Donkor, has emphasised the bank’s commitment to climate issues and sustainable development projects.

Speaking after receiving the Financial Institution of the Year, Africa category award at the Africa Sustainability Awards held at the Accra International Conference Centre on Monday, 30th December, Dr Agyekum Donkor announced that the European Investment Bank (EIB) has provided EBID with €1,000,000 to enhance the regional bank’s climate-related and sustainable development initiatives.

Dr Agyekum Donkor, who received the award from the Canadian High Commissioner to Ghana, Myriam Montrat, remarked, “For us to sustain our operations, it is important to pay attention to climate issues in accordance with SDG 13. Therefore, the bank has committed itself to ensuring that climate issues are taken seriously. For that reason, we have financed a number of climate-related projects across all the countries of West Africa.”

Key Contributions to Sustainable Development

The EBID President highlighted that the bank finances projects in agriculture, energy, mining, infrastructure, industry, and services, all with a focus on sustainability.

He stated, “It is for this reason that the African Sustainability Awards has recognised our role as a leading institution committed to climate change and sustainable development activities. This award is an affirmation of our dedication to climate issues in West Africa, Africa, and the world.”

Dr Agyekum Donkor dedicated the award to the Board of Governors, the Ministers for Finance, the Board of Directors, and the entire staff of EBID, acknowledging their hard work and tenacity in achieving this milestone.

A Record of Achievement

The award underscores EBID's significant contributions to sustainable practices across Africa and its efforts to advance environmental, social, and economic progress in alignment with the United Nations Sustainable Development Goals (SDGs).

Since its establishment, EBID has committed over USD $1 billion to sustainability-driven projects, guided by its 2021–2025 strategy. The bank's dedication to sustainable initiatives has garnered international recognition, including a €100 million line of credit from the European Investment Bank to support climate-friendly and sustainable projects in the ECOWAS sub-region.

Pioneering Green Financing

In February 2023, EBID published its first Environmental, Social, and Governance (ESG) Finance Framework, formalising its commitment to green financing and sustainability initiatives. This was followed in October 2023 by the inaugural edition of the Bank’s informative series, "The President's Round Table," on the theme "Greening West Africa." The event brought together environmental and sustainability experts to address the effects of climate change and propose climate-conscious economic development strategies for the sub-region.

In addition, EBID recently became the first Development Finance Institution (DFI) to issue a Green, Social, and Sustainable (GSS) Bond on the UEMOA regional financial market. The bond, issued through the Bourse Régionale des Valeurs Mobilières (BRVM), was oversubscribed within 48 hours.

EBID is also finalising its accreditation to the Green Climate Fund (GCF). Recently, the bank hosted a high-level delegation from the GCF to discuss strategies for positioning EBID as a stronger supporter of climate initiatives in the ECOWAS sub-region.

Africa Sustainability Awards

The Africa Sustainability Awards (ASA) is a platform that honours individuals, organisations, businesses, NGOs, and government bodies that demonstrate exceptional commitment to sustainable practices.

The award ceremony featured performances by renowned Ghanaian artistes, including Bessa Simons, Sherifa Gunu, Amandzeba, Adaha Band, and Rocky Dawuni.

This recognition further cements EBID’s reputation as a champion of sustainability and climate action in West Africa and beyond.