President EBID advocates need to scale up climate financing for Africa’s growth, transformation at AFIS 2025

President and Chairman of the Board of Directors of the ECOWAS Bank for Investment and Development (EBID), Dr George Agyekum Donkor, has advocated for the strategic importance of innovative climate financing instruments for Africa’s sustainable growth and transformation at the 2025 Africa Financial Summit (AFIS) in Casablanca, Morocco.

Speaking on the topic, “Climate and Bond Markets: How to Build Africa’s Sustainable Finance Arsenal,” Dr Donkor intimated that the continent has enough resources to finance its climate-smart investments. He opined that the continent holds in excess of USD160 billion in pension funds alone, with over 90% held in government securities and instruments, of which West Africa holds USD40 billion.

Dr Donkor posited that what remains is project appeal (i.e. healthy investment returns) and the will to do it. He called on African governments and institutions to take active steps towards de-risking climate projects and promulgating enabling regulatory regimes and mechanisms to facilitate the mobilisation of climate-sensitive financing, thereby fostering sustainable growth and development.

He further indicated that DFIs possess the unique advantage of catalysing such green resources to support governments to achieve their green investment objectives. As an example, he highlighted that EBID was the first DFI to issue a Green, Social and Sustainable (GSS) bond on the WAEMU Market in July 2024 to support GSS-themed projects.
The African Finance and Industry Summit (AFIS) is a leading annual platform that brings together financial institutions, private sector leaders, policymakers, and development partners to advance dialogue and action for Africa’s industrial and financial transformation.