The Chairman of the Board of Governors of the ECOWAS Bank for Investment and Development (EBID), DrvCasiel Ato Forson, has commended the institution’s strong financial and operational performance, while calling on member states to fulfil outstanding capital commitments.

Delivering his welcome address at the 24th Ordinary Session of the Board of Governors in Accra, the Chair expressed gratitude to President John Dramani Mahama and the people of Ghana for hosting the high-level meeting.

He noted that despite a challenging global economic environment marked by geopolitical tensions, trade uncertainties, and uneven growth patterns, EBID demonstrated resilience and strategic focus in 2025.

According to him, the Bank’s balance sheet expanded from US$1.97 billion in 2024 to US$2.39 billion in 2025, while profit increased by 13.3 percent to US$9.75 million.

Project approvals also rose by 50 percent, with commitments increasing by over 83 percent to more than US$813 million, particularly in the energy and transport sectors.

The Chair further highlighted key institutional milestones, including the reaffirmation of EBID’s credit ratings by Moody’s and Fitch, accreditation with the Green Climate Fund, and the opening of a regional office in Abidjan to enhance project delivery and regional engagement.

However, he raised concerns over delays in capital contributions by member states, revealing that only four countries—Ghana, Côte d’Ivoire, Guinea, and Togo—have fully met their obligations under a 2022 resolution to increase the Bank’s authorised capital to US$3.4 billion.

He disclosed that while US$102.5 million was received in 2025, outstanding arrears remain at approximately US$256 million, urging member states to act promptly to honour their commitments.

The Chair emphasised that timely capital payments are critical to strengthening the Bank’s capacity to finance transformative projects and support inclusive economic growth across the region.

He called on participants to use the Accra meeting to make decisive and forward-looking decisions that will shape the future of the Bank and West Africa’s development agenda.

The session brings together governors and stakeholders to review the Bank’s performance and chart a path for sustained growth and regional impact.