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BusinessECOWAS Bank commits $200m investment into Ghana's economy

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ECOWAS Bank commits $200m investment into Ghana’s economy

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In a Memorandum of Understanding (MOU) signed at the EBID headquarters in Lome, Togo, Dr. George Agyekum Donkor, President and Chairman of the Board of Directors of EBID, and Dr. Mohammed Amin Adam, Minister-designate for Finance of Ghana, solidified a transformative partnership.

The agreement involves injecting USD 200 million into the Ghanaian economy through strategic alliances with the Ghana Export-Import Bank (GEXIM) and GCB Bank PLC.

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The signing ceremony saw the presence of key stakeholders, including Mr. Lawrence Agyinsam, CEO of GEXIM, and Mr. Samuel Aidoo, Executive Director of Wholesale and Investment Banking at GCB Bank PLC. This partnership underscores EBID’s commitment to fostering economic growth and enhancing resilience across the ECOWAS Member States.

According to him, this collaborative endeavor underscores EBID’s dedication to fostering synergistic partnerships in the finance and investment sector, setting a pioneering example for future regional collaborations and investments.

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In response, Dr. Amin Adam emphasized the significance of institutions like EBID in driving sustainable transformation, particularly amid ongoing global challenges.

He praised the profound impact of EBID under Dr. Donkor’s leadership and expressed strong confidence in the Bank’s ongoing role in shaping the developmental agenda of the region.

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The USD 200 million injection aims to catalyze the growth of Small and Medium Enterprises (SMEs) in critical sectors of the economy, promoting job creation, innovation, and sustainable development.

This injection will elevate EBID’s total commitments in Ghana to USD 600 million.

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