The ECOWAS Bank for Investment and Development (EBID), a sub-regional financing institution based in Lomé, has just obtained its accreditation to the Green Climate Fund (GCF). This recognition opens up new opportunities for it to mobilize funds for climate financing in the ECOWAS region.
In detail, this accreditation will allow the BIDC to mobilize additional resources to finance, among other things, sustainable infrastructure, renewable energy projects and climate adaptation initiatives.
“ This is an important step towards a future where economic growth and environmental sustainability go hand in hand ,” said Dr George Agyekum Donkor, President of BIDC.
This progress comes as, as part of its 2021-2025 strategy, the Bank has already injected more than a billion dollars into sustainable development projects. At the same time, it has consolidated its commitments by signing a €100 million agreement with the European Investment Bank (EIB), intended to support green projects in the region.
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It should be noted that the BIDC is not the only sub-regional institution to strengthen its positions in green financing. BOAD, another development institution based in Lomé, recently mobilized 17 billion FCFA from the Green Fund for the benefit of Togo.
