The ECOWAS Bank for Investment and Development (EBID) has reached a major milestone by securing accreditation from the Green Climate Fund (GCF). This achievement unlocks new funding opportunities to accelerate climate action across West Africa, reinforcing the Bank’s role in advancing sustainable development.
The accreditation enhances EBID’s ability to finance climate-resilient projects, further strengthening its commitment to sustainability and green growth in the ECOWAS region. It positions the Bank as a key conduit for global climate finance, directing funds toward transformative initiatives in renewable energy, infrastructure, and the green economy.
As part of its 2021-2025 strategy, EBID has already invested over USD 1 billion in sustainability-focused projects. The Bank has also secured a EUR 100 million credit facility from the European Investment Bank (EIB) to support sustainable development efforts within the ECOWAS sub-region. These investments reaffirm EBID’s dedication to climate-smart financial solutions that help member states mitigate climate risks and drive sustainable economic growth.
Dr. George Agyekum Donkor, President and Chairman of the Board of Directors at EBID, hailed the accreditation as a game-changer. “This milestone marks a step towards a future where economic progress and environmental sustainability go hand in hand. We are committed to leveraging this accreditation to mobilize resources, unlock opportunities, and build a greener future for West Africa.”
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With the GCF accreditation, EBID can now:
- Develop and implement large-scale climate adaptation and mitigation projects,
Attract additional climate finance from global partners. - Provide technical assistance to member states in designing bankable climate projects,
Align regional development plans with global climate goals.
The Green Climate Fund (GCF) is the United Nations’ primary mechanism for channeling climate finance to developing nations, enabling them to combat climate change effectively. Established at COP17 in Durban in 2011, the GCF supports projects that cut greenhouse gas emissions and bolster climate resilience.
Through this strategic partnership, EBID is well-positioned to support ECOWAS member states in meeting their climate commitments while fostering sustainable economic opportunities for present and future generations.
