$256m arrears threaten EBID’s capacity to fund development — Ato Forson
Cassiel Ato Forson, Ghana’s Minister for Finance, has expressed concern over outstanding arrears of about $256 million owed to the ECOWAS Bank for Investment and Development (EBID), cautioning that delays in payments by member states are limiting the bank’s operations.
He revealed that just four out of the 15 member countries of the Economic Community of West African States—Ghana, Côte d’Ivoire, Guinea, and Togo—have fully met their obligations under a 2022 capital call, leaving 11 nations yet to settle their dues.
Dr Forson made these remarks during the opening of the 24th Ordinary Session of the EBID Board of Governors held in Accra on Tuesday, April 8, 2026.
He stressed that prompt capital contributions are vital to boosting EBID’s financial strength and sustaining its growth and development impact across the region.
According to him, the board approved an increase in the bank’s authorised capital to $3.4 billion in 2022 and later issued a third tranche subscription call of $411.4 million, with a deadline of December 2025.
However, while $102.5 million was received in 2025, a substantial funding gap remains, undermining the bank’s ability to fully execute its development mandate. Although he did not identify the countries in default, he urged all governors to act quickly to fulfil their commitments.
On performance, Dr Forson noted that EBID recorded steady growth, with its balance sheet rising from $1.97 billion in 2024 to $2.39 billion by the end of 2025. Profit also increased by 13.3 percent, from $8.55 million to $9.75 million.
He added that project approvals grew by 50 percent, while financial commitments surged by more than 83 percent to $813.77 million, mainly directed toward energy and transport infrastructure projects.
The bank also mobilised over $510 million and €310 million for priority initiatives, along with an additional $100 million in capital, strengthening its role in financing development across the sub-region.
Dr Forson further indicated that international rating agencies Moody’s and Fitch Ratings have reaffirmed EBID’s ratings at B2-Stable and B-Stable, respectively. He also highlighted that the bank has secured accreditation with the Green Climate Fund, creating new opportunities for climate-related financing.
He emphasised that deliberations at the Accra meeting would be thorough, as decisions taken would influence the future of both the bank and the West African region.
Despite the bank’s strong performance, the Finance Minister maintained that its ability to fund projects is still restricted by the existing capital shortfall, stressing the need to expand its capital base to better support development and economic growth across all member states.
About The Author
