The ECOWAS Bank for Investment and Development (EBID) has firmly rejected claims that its involvement in the Black Volta Gold Project is politically motivated.

Speaking at the signing of a $100 million facility agreement between EBID, Engineers and Planners, and Azumah Resources Ghana Limited, President of the Bank, Dr. George Donkor, described the allegations as unfounded and misleading.

“This initiative is purely driven by economic and developmental goals,” Dr. Donkor stated. “It is not about politics, it is about creating value, jobs, and sustainable growth in Ghana and across the West African region.”

He noted that the Black Volta Gold Project is a key investment that aligns with EBID’s mandate to support regional development through strategic partnerships in sectors such as mining, infrastructure, and energy.

Dr. Donkor also used the occasion to urge the Government of Ghana and other key partners to provide stronger backing for the mining sector, emphasizing its potential to create employment and stimulate industrial growth.

“We believe the mining sector holds enormous potential to transform local economies. We call on the government and all stakeholders to support this sector to unlock jobs, revenue, and long-term development opportunities,” he added.

The Black Volta Gold Project, located in Ghana’s Upper West Region, is expected to generate significant economic impact through local job creation, community development initiatives, and increased export revenue.

The $100 million agreement marks a major step forward in advancing the project’s development, reinforcing the role of public-private partnerships in driving sustainable economic progress across the ECOWAS region.