Lomé, Togo – On May 27, the atmosphere at the Lomé headquarters of the ECOWAS Bank for Investment and Development (EBID) was celebratory, but also reflective. The occasion? No less than half a century of existence for the West African organization. The event brought together not only the leading minds of the institution but also a multitude of public and private stakeholders, financiers, and entrepreneurs, all united by the same vision: that of a growing West Africa.
Beyond the Jubilee: EBID Redefines Its Mission
This gathering was far from a mere commemoration. It was a moment for ECOWAS’s main financial arm to share its story, its mission and vision, to highlight its crucial partnerships, and above all, to measure the extent of its contribution to community development.
Moctar Coulibaly, Secretary-General of the institution and representative of President George Agyekum Donkor, articulated it clearly: « We are not just celebrating five decades of collaboration; we are also reflecting on the progress made and the path that lies ahead. » He recalled how ECOWAS, starting as a modest trade bloc, has become a « formidable force for regional economic growth. » In this epic journey, EBID has positioned itself as the financial engine, propelling infrastructure development and stimulating private sector growth in vital areas such as energy, health, agriculture, education, and transport. This is concrete action, on the ground, serving all citizens of the region.
The Private Sector: The Indispensable Engine of Tomorrow
Moctar Coulibaly strongly emphasized one truth: the private sector is the cornerstone of West African development. The sub-region’s infrastructure deficit, a colossal amount estimated at some $3 billion USD per year (according to the ECOWAS Project Preparation and Development Unit), cannot be covered by public resources alone, especially in an ever-demanding global economic context.
« While public institutions lay the groundwork, the role of the private sector in development cannot be underestimated, » he insisted. Public-Private Partnerships (PPPs) are no longer a mere option; they have become essential levers for attracting investment, managing risks, and ensuring the delivery of fundamental services. It’s an indispensable synergy for building the future.
A Future to Build Together: EBID’s Call
For EBID, this golden jubilee is not an end in itself but a powerful call to action. It’s about redoubling efforts to consolidate regional institutions, harmonize economic and social policies, and invest massively in human capital. The idea is clear: the future of ECOWAS will depend on our collective ability to envision and act.
These celebrations, officially launched on May 22 in Accra, Ghana, will unfold across all member states. This sends a strong signal that ECOWAS, with EBID at its spearhead, is more committed than ever to shared prosperity.
EBID Celebrates 50 Years of ECOWAS and Calls for Action on Development Challenges
Lomé, Togo – The ECOWAS Bank for Investment and Development (EBID) marked a key moment on Tuesday, May 27, in Lomé, celebrating the 50th anniversary of the sub-regional organization. The event, held at the financial institution’s headquarters, brought together EBID leaders and a wide array of stakeholders from the public, private, financial, and entrepreneurial sectors.
This celebration served as a platform for ECOWAS’s financial arm to reaffirm its mission and vision, present its partnerships, and, most importantly, highlight its contribution to community development. Moctar Coulibaly, Secretary-General of the institution and representative of President George Agyekum Donkor, recalled ECOWAS’s evolution from a « regional trade bloc to a formidable force for regional economic growth. » He also emphasized EBID’s commitment to financing infrastructure and supporting the private sector in vital areas such as energy, health, agriculture, education, and transport within member states.
The Private Sector, Key to West African Development
Mr. Coulibaly stressed the essential role of the private sector in regional development. Faced with an infrastructure deficit estimated at approximately $3 billion USD per year by the ECOWAS Project Preparation and Development Unit (PPDU), it’s clear that public resources alone are insufficient, especially in the current global economic climate.
« While public institutions lay the foundations, the role of the private sector in development cannot be underestimated, » he stated, highlighting the emergence of Public-Private Partnerships (PPPs) as effective mechanisms for mobilizing resources, sharing risks, and providing essential services.
A Call to Action for a Stronger Future
For EBID, this golden jubilee is more than just a commemoration; it represents a vibrant call to action. The institution urges a strengthening of regional institutions, a promotion of policy harmonization, and increased investment in human capital.
The celebrations, officially launched on May 22 in Accra, Ghana, will continue across the various member states, marking an ongoing step in the commitment of ECOWAS and its financial institutions toward regional prosperity.
