• Login
NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
  • Home
  • News
    • General
    • Political
  • Economy
  • Business
    • Agribusiness
    • Aviation
    • Banking & Finance
    • Energy
    • Insurance
    • Manufacturing
    • Markets
    • Maritime
    • Real Estate
    • Tourism
    • Transport
  • Technology
    • Telecom
    • Cyber-security
    • Cryptocurrency
    • Tech-guide
    • Social Media
  • Features
    • Interviews
    • Opinions
  • Reports
    • Banking/Finance
    • Insurance
    • Budgets
    • GDP
    • Inflation
    • Central Bank
    • Sec/Gse
  • Lifestyle
    • Sports
    • Entertainment
    • Travel
    • Environment
    • Weather
  • NRTV
    • Audio
    • Video
No Result
View All Result
No Result
View All Result
NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
No Result
View All Result
Home Business

ECOWAS Bank raises authorised capital to $3.5 billion

3 years ago
in Business, Economy, Features, highlights, Home, home-news, latest News, Markets
1 min read
0 0
0
53
VIEWS
Share on FacebookShare on TwitterShare on Linkedin

ECOWAS Bank raises authorised capital to $3.5 billion

The board of governors of the ECOWAS Bank for Investment and Development (EBID) has unanimously increased the bank’s authorised capital from US$1.5 billion to US$3.5 billion with effect from January 2023.

The governors also called for the third tranche of the capital of the bank which is in the sum of US$438 million.

The board comprising the ministers for finance and ministers for planning and development of the 15 ECOWAS member states took this decision at its just ended 10th extraordinary session held on 27 October 2022 in Praia, Republic of Cabo Verde.

The president and chairman of the board of EBID, Dr George Agyekum Donkor, made this disclosure immediately after the session. According to Donkor, the decision by the governors was very strategic and timely, especially as the bank intensifies its resource mobilisation initiatives and seeks to position itself as the foremost regional development finance institution committed to playing a key and expansive role in assisting ECOWAS member states to navigate the path to socio-economic recovery from the fallout of the COVID-19 pandemic and the Russian – Ukraine war.

Outlining the justifications for the governors’ decision, Donkor emphasised the need for the bank to improve leverage, capital adequacy, liquidity, and the overall risk-bearing capacity.

He stressed on the need for the bank to be abreast with industry trends and improve its rating.

RelatedPosts

Gold Price Surpasses $4,000 for First Time

“We Want to Win This Game”- Otto Addo’s Black Stars Aim for World Cup Qualification Against Central African Republic

President Kurt Edwin Simeon-Okraku appointed Chairperson of FIFA Anti-Racism and Anti-Discrimination Committee

According to him, calling the third tranche of the bank’s capital will no doubt enhance its capacity to grant concessionary resources to member states in order to accelerate economic recovery.

The chairman of the board of governors, who is also the Vice-prime minister for finance and business development and minister for digital economy of Cabo Verde, Dr Olavo Avelino Garcia Correia, commended the president of the bank and his team for the remarkable and exceptional performance within a short time which has led to impressive operational and financial performance of EBID and the eventual upgrade of the bank’s rating by both Moddy’s and Fitch rating agencies.

He urged the EBID management not to rest on its oars but strive to obtain investment grade in order to attract competitive resources for ECOWAS members.

 

Tags: ECOWAS Bank for Investment and Development (EBID)ECOWAS Bank raises authorised capital to $3.5 billion
No Result
View All Result

Highlights

England, Portugal, and Norway Poised for 2026 World Cup Qualification

Spending Smarter to Boost Growth

Asante Gold Reports Strong Exploration Results at Bibiani and Chirano Mines

Economic Uncertainty Can Test the Resilience of the Foreign Exchange Market

Inflation to Remain Within 8+/-2 Target Band by End-Q4, Says BoG Governor

BoG to Begin $1.1bn FX Intermediation Under Domestic Gold Purchase Programme this October

Trending

Business

Gold Price Surpasses $4,000 for First Time

October 8, 2025

Gold Price Surpasses $4,000 for First Time Gold advanced to a new record on Tuesday, with futures...

“We Want to Win This Game”- Otto Addo’s Black Stars Aim for World Cup Qualification Against Central African Republic

October 8, 2025

President Kurt Edwin Simeon-Okraku appointed Chairperson of FIFA Anti-Racism and Anti-Discrimination Committee

October 8, 2025

England, Portugal, and Norway Poised for 2026 World Cup Qualification

October 8, 2025

Spending Smarter to Boost Growth

October 8, 2025

Who we are?

NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World

NorvanReports is a unique data, business, and financial portal aimed at providing accurate, impartial reporting of business news on Ghana, Africa, and around the world from a truly independent reporting and analysis point of view.

© 2020 Norvanreports – credible news platform.
L: Hse #4 3rd Okle Link, Baatsonaa – Accra-Ghana T:+233-(0)26 451 1013 E: news@norvanreports.com info@norvanreports.com
All rights reserved we display professionalism at all stages of publications

No Result
View All Result
  • Home
  • Business
    • Agribusiness
    • Aviation
    • Energy
    • Insurance
    • Manufacturing
    • Real Estate
    • Maritime
    • Tourism
    • Transport
    • Banking & Finance
    • Trade
    • Markets
  • Economy
  • Reports
  • Technology
    • Cryptocurrency
    • Cyber-security
    • Social Media
    • Tech-guide
    • Telecom
  • Features
    • Interviews
    • Opinions
  • Lifestyle
    • Entertainment
    • Sports
    • Travel
    • Environment
    • Weather
  • NRTV
    • Audio
    • Video

Welcome Back!

Login to your account below

Forgotten Password?

Create New Account!

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
NORVANREPORTS.COM | Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.
We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it.