Cabo Verde

Cabo Verde Appointed New Chair Of Ebid Board Of Governors

The 20th Annual General Meeting of the Board of Governors of the ECOWAS  Bank for Investment and Development (EBID), unanimously appointed the Deputy  Prime Minister and Minister for Finance and Business Development and Minister for  Digital Economy of the Republic of Cabo Verde, His Excellency Dr. Olavo Avelino  Garcia Correia, as the new Chairman of the Board of Governors. He took over from  the Minister of Finance and Economy of the Republic of Benin, Mr. Romauld  Wadgani. The Board comprises the Ministers of Finance or Ministers of Planning of  the fifteen (15) ECOWAS Member States. 

In a congratulatory speech after the appointment, the President of EBID, Dr. George  Agyekum Donkor, indicated that H.E. Dr. Olavo Avelino Garcia Correia’s  appointment was a testament to his stature and influence as a seasoned banker and  statesman. The President of EBID emphasised that the new Chairman’s professional  proficiencies in Banking, Economics and Business Management as well as his  multisectoral experiences in diverse public and private sectors will be valuable as the  Bank continues to emerge as the leading Development Finance institution in the  West African sub-region through its impactful and focused transformation of ECOWAS communities. Dr. Donkor pledged to work closely with the new Chairman  to further enhance the credibility and image of the Bank. 

M. Olavo Avelino

Earlier in the week, the 77th Meeting of the Board of Directors of EBID had  approved approximately fifty-three million seven hundred thousand United 

States Dollars (USD53,700,000) for three (3) projects in three (3) member states of  ECOWAS. 



ECOWAS Bank for Investment and Development (EBID) is a leading regional  investment and development bank, owned by the fifteen (15) ECOWAS Member States, namely, Benin, Burkina Faso, Cape Verde, Côte d’Ivoire, The Gambia,  Ghana, Guinea, Guinea-Bissau, Liberia, Mali, Niger, Nigeria, Senegal, Sierra Leone  and Togo. Based in Lomé, Togolese Republic, the Bank is committed to financing  developmental projects and programs covering diverse initiatives from infrastructure  and basic amenities, rural development and environment, industry, and social  services sectors, through its private and public sector windows. EBID intervenes  through long, medium, and short-term loans, equity participation, lines of credit,  refinancing, financial engineering operations and related services. 

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