EBID, ECOWAS sign pact to strengthen ties on mutual interest

The ECOWAS Commission and the ECOWAS Bank for Investment and Development (EBID) have agreed to strengthen collaboration, expand cooperation and explore areas of mutual interest for the prosperity of the sub-region.

This was the focus of the courtesy call by the leadership of the Commission led by  Dr. Omar Alieu Touray to the President of EBID, Dr. George Agyekum Nana Donkor.

The EBID President said the new leadership of ECOWAS came at a time when the sub-region is facing numerous economic and security challenges but given the public service record and diplomatic antecedent of the new President, the sub-region will surely overcome these challenges.

He added that EBID was formed in 1975 but started operations in 1979 with a mission to support the developmental projects and programmes of Member States.

The EBID President share the organizational structure and history of the bank while focusing on the recent achievements in terms of projects and operations across member states.

In his response, the President of the ECOWAS Commission  thanked the EBID management for their visit and support for the new administration.

He stated that the new mantra “ECOWAS of the People” was created to deliver shared prosperity for the people of the sub-region which will be achieved through the four core strategies of the new ECOWAS Commission namely poverty reduction, economic integration, good governance and due process.

He added that to achieve these strategies, there is a need to build deep collaboration and strong institutions with the right resources and processes, soliciting the the support of EBID to make the objectives a reality.

In his comment,  the Vice President of ECOWAS Commission, Damtien L. Tchintchibidja, welcomed all EBID management once again and reiterated the commitment of the Commisssion to expand relationships with them.

Issues around payment of capital subscription by member states, interest subsidy funds, status of cyber security grant, status of EU Pillar implementation, joint resource mobilization strategy, revitalization of the permanent committee for studies and research and management of ECOWAS staff pension funds, were discussed at the closed door meeting.