{"id":26046,"date":"2022-11-04T16:46:16","date_gmt":"2022-11-04T16:46:16","guid":{"rendered":"https:\/\/www.africa-press.net\/liberia\/all-news\/ebid-approves-general-capital-increase"},"modified":"2022-11-04T17:09:51","modified_gmt":"2022-11-04T17:09:51","slug":"ebid-approves-general-capital-increase","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/liberia\/all-news\/ebid-approves-general-capital-increase","title":{"rendered":"EBID approves general capital increase"},"content":{"rendered":"<p><span style=\"color: #ff6600\"><strong>Africa-Press &#8211; Liberia. <\/strong><\/span>The Board of Governors of the ECOWAS Bank for Investment and Development (EBID) has unanimously increased the Bank\u2019s authorized capital from USD 1.5 billion to USD 3.5 billion with effect from January 2023. The Governors also called for the third tranche of the capital of the Bank which is in the sum of USD 438 million.<\/p>\n<p>The Board of Governors which comprises the Ministers for Finance and Ministers for Planning and Development of the fifteen ECOWAS Member States took this decision at its just ended 10th Extraordinary session held on 27th October 2022 in Praia, Republic of Cabo Verde.<\/p>\n<p>The President and Chairman of the Board of Directors of EBID, Dr. George Agyekum Donkor, made this disclosure immediately after the session. According to Dr. Donkor, the decision by the Governors was very strategic and timely especially as the Bank intensifies its resources mobilization initiatives and seeks to position itself as the foremost regional development finance institution committed to playing a key and expansive role in assisting ECOWAS Member States to navigate the path to socio-economic recovery from the fallout of the COVID-19 pandemic and the Russian \u2013 Ukraine war.<\/p>\n<p>Outlining the justifications for the Governors\u2019 decision, Dr. Donkor emphasized the need for the Bank to improve leverage, capital adequacy, liquidity, and overall risk-bearing capacity. He further underscored the need for the Bank to be abreast with industry trends and improve its rating. According to the President of EBID, calling the third tranche of the Bank\u2019s capital will no doubt enhance the Bank\u2019s capacity to grant concessionary resources to Member States in order to accelerate economic recovery.<\/p>\n<p>The Chairman of the Board of Governors, who is also the Vice-Prime Minister for Finance and Business Development and Minister for Digital Economy of the Republic of Cabo Verde, Dr. Olavo Avelino Garcia Correia, commended the President of the Bank and his team for the remarkable and exceptional performance within a short time which has led to impressive operational and financial performance of the Bank and the eventual upgrade of the Bank\u2019s rating by both Moddy\u2019s and Fitch rating agencies. He urged the Management of the Bank not to rest on its oars but strive to obtain investment grade in order to attract competitive resources for ECOWAS Member States.<b> <\/b><\/p>\n<p><strong>For More News And Analysis About <a href=\"https:\/\/www.africa-press.net\/liberia\">Liberia<\/a> Follow <a href=\"https:\/\/www.africa-press.net\/\">Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Africa-Press &#8211; Liberia. The Board of Governors of the ECOWAS Bank for Investment and Development (EBID) has unanimously increased the Bank\u2019s authorized capital from USD 1.5 billion to USD 3.5 billion with effect from January 2023. The Governors also called for the third tranche of the capital of the Bank which is in the sum [&hellip;]<\/p>\n","protected":false},"author":84,"featured_media":26045,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,5],"tags":[233,237,234],"class_list":["post-26046","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","tag-africa-press","tag-africa-press-liberia","tag-liberia"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v26.1 (Yoast SEO v27.0) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>EBID approves general capital increase - Liberia<\/title>\n<meta name=\"description\" content=\"The Board of Governors of the ECOWAS Bank for Investment and Development (EBID) has unanimously increased the Bank\u2019s aut ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/liberia\/all-news\/ebid-approves-general-capital-increase\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"EBID approves general capital increase\" \/>\n<meta property=\"og:description\" content=\"The Board of Governors of the ECOWAS Bank for Investment and Development (EBID) has unanimously increased the Bank\u2019s aut ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/liberia\/all-news\/ebid-approves-general-capital-increase\" \/>\n<meta property=\"og:site_name\" content=\"Liberia\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/AfricaPressTunisiaa\" \/>\n<meta property=\"article:published_time\" content=\"2022-11-04T16:46:16+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-11-04T17:09:51+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/liberia\/sites\/37\/2022\/11\/postQueueImg_30.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"720\" \/>\n\t<meta property=\"og:image:height\" content=\"410\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/liberia\/all-news\/ebid-approves-general-capital-increase#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/liberia\/all-news\/ebid-approves-general-capital-increase\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/liberia\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"EBID approves general capital increase\",\"datePublished\":\"2022-11-04T16:46:16+00:00\",\"dateModified\":\"2022-11-04T17:09:51+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/liberia\/all-news\/ebid-approves-general-capital-increase\"},\"wordCount\":391,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/liberia\/all-news\/ebid-approves-general-capital-increase#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/liberia\/sites\/37\/2022\/11\/postQueueImg_30.jpg\",\"keywords\":[\"Africa Press\",\"Africa Press-Liberia\",\"Liberia\"],\"articleSection\":[\"all news\",\"economy\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/liberia\/all-news\/ebid-approves-general-capital-increase#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/liberia\/all-news\/ebid-approves-general-capital-increase\",\"url\":\"https:\/\/www.africa-press.net\/liberia\/all-news\/ebid-approves-general-capital-increase\",\"name\":\"EBID approves general capital increase - 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