EBID President Calls for Scaled-Up Climate Financing to Drive Africa’s Growth at AFIS 2025

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By Adamu Aliyu Ngulde, Maiduguri


The President and Chairman of the Board of Directors of the ECOWAS Bank for Investment and Development (EBID), Dr. George Agyekum Donkor, has urged African leaders and financial institutions to scale up climate financing and deploy innovative green investment instruments to accelerate the continent’s sustainable growth and transformation.

Speaking at the 2025 Africa Financial Summit (AFIS) in Casablanca, under the theme “Climate and Bond Markets: How to Build Africa’s Sustainable Finance Arsenal,” Dr. Donkor said Africa has sufficient internal resources to drive its own climate-smart investments.

He noted that the continent’s pension funds alone hold over USD 160 billion, with more than 90 percent invested in government securities, including USD 40 billion in West Africa. “What remains,” he said, “is project appeal and the will to do it.”

Dr. Donkor called on African governments and financial institutions to take proactive steps to de-risk climate projects, strengthen regulatory frameworks, and mobilize climate-sensitive financing to foster inclusive growth and resilience.

He emphasized that development finance institutions (DFIs) have a catalytic role to play in mobilizing green capital to support national climate goals. As an example, he cited EBID’s issuance of the first Green, Social and Sustainable (GSS) bond on the WAEMU market in July 2024, aimed at financing environmentally and socially responsible projects.

The Africa Financial and Industry Summit (AFIS) is a leading annual platform that convenes policymakers, private sector leaders, and development partners to advance dialogue and action on Africa’s financial and industrial transformation.

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