ECOWAS Bank supports member states with almost $3 billion

ECOWAS Bank supports member states with almost $3 billion

- Dr George Nana Agyekum Donkor, the president of ECOWAS Bank, has revealed his outfit has supported West African countries with about $2.9 billion

- He added that each ECOWAS member country has been catered for in terms of investments

- According to him, the bank was focused on the economic development of member states

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The ECOWAS Bank for Investment and Development (EBID) has provided support to the tune of $2.9 billion to West African countries.

According to the president of the bank, Dr George Nana Agyekum Donkor, the decision is in line with the core duty of the bank to enhance the sub-region’s development agenda.

Speaking at the construction site of the Garden City Mall in Kumasi in the Ashanti Region, he revealed that EBID was focused on the economic development of member states.

ECOWAS Bank supports member states with almost $3 billion
Dr George Nana Agyekum Donkor, President of ECOWAS Bank Source: bidc-ebid.org
Source: UGC

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YEN.com.gh understands he was leading a delegation to inspect the progress of work at the site.

Per a report by the Ghana News Agency, he added that the Garden City Mall project could help enhance Kumasi’s local economy and create jobs.

He noted that reputable partners such as the Ghana Commercial Bank, Kumasi Traditional Council, Methodist Church of Ghana, and the Retail and Realty Company Limited were involved in the project.

Information available to YEN.com.gh shows that EBID has invested US$20 million into the project so far which is 85% complete and expected to be opened in April 2021.

Dr Donkor went on to say that other countries in the sub-region have also enjoyed their share of investments and the bank would continue to engineer the economy of the sub-region.

In other news, YEN.com.gh has learned that the salaries of employees of seven State-Owned Enterprises (SOEs) will be paid with GHc312 million from the Consolidated Bank of Ghana (CBG).

The CBG’s decision is a result of a directive from the Ministry of Finance and is intended to help stabilise the operations of the SOEs.

Information available shows the concessionary credit facility has been guaranteed by the government and comes with a moratorium.

It will be used to ensure the SOEs promptly pay salaries of employees for the next six months.

READ ALSO: Ghana to establish Development Bank of Ghana to mobilise funds

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Source: Yen

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