By Abdullahi Lukman
The ECOWAS Bank for Investment and Development (EBID), based in Lomé, Togo, has received accreditation from the Green Climate Fund (GCF), opening up new opportunities to finance climate change initiatives across West Africa.
This accreditation enhances EBID’s ability to support climate-resilient development and positions it as a key channel for global climate funds into critical regional projects.
With this partnership, EBID will be able to expand its capacity to finance infrastructure, renewable energy, and green economy initiatives, helping local communities become more resilient to climate change impacts.
The bank’s efforts are aligned with the United Nations Sustainable Development Goals (SDGs) and focus on accelerating the transition to a low-carbon, climate-resilient economy.
As part of its 2021-2025 strategy, EBID has committed over $1 billion to sustainability-driven projects.
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It has also secured a €100 million credit agreement with the European Investment Bank (EIB) to support sustainable development initiatives within the ECOWAS region.
These investments reflect EBID’s commitment to promoting green economic growth and addressing climate risks through climate-smart financial solutions.
Dr. George Agyekum Donkor, President and Chairman of EBID, described the accreditation as a crucial step towards aligning economic growth with environmental sustainability.
He emphasized that the bank aims to mobilize resources and unlock opportunities for a better future for West Africa’s people.
The GCF accreditation strengthens EBID’s capacity to design and implement large-scale climate adaptation and mitigation projects, attract additional climate finance from international partners, provide technical assistance to member states, and align regional development with global climate goals.
The GCF, launched at the 2011 Durban Climate Change Conference, is the UN’s main mechanism for providing financial support to developing countries in combating climate change.
Through its partnership with the GCF, EBID is better equipped to help ECOWAS member states meet their climate commitments and achieve sustainable economic development.
