Ghana’s Minister for Finance, Cassiel Ato Forson, has raised concern over unpaid arrears of about $256 million owed to the ECOWAS Bank for Investment and Development, warning that delays by member states are constraining the bank’s operations.

He disclosed that only four of the 15 member states of the Economic Community of West African States—Ghana, Côte d’Ivoire, Guinea and Togo—have fully honoured their commitments under a capital call agreed in 2022, leaving 11 countries yet to complete their payments.

Dr Forson made the remarks at the opening of the 24th Ordinary Session of the EBID Board of Governors in Accra on Tuesday, April 8, 2026.

“Timely capital payments are critical. It strengthens EBID’s leverage and sustains its growth and impact across our region,” he said.

He explained that the board approved an increase in the bank’s authorised capital to $3.4 billion in 2022 and subsequently issued a third tranche subscription call of $411.4 million, with a deadline set for December 2025.

According to him, although $102.5 million was received in 2025, a significant shortfall remains, affecting the bank’s ability to fully deliver on its development mandate. While he did not name the defaulting countries, he urged all governors present to act swiftly to meet their obligations.

Touching on performance, Dr Forson said EBID recorded steady growth, with its balance sheet expanding from $1.97 billion in 2024 to $2.39 billion by the end of 2025. Profit also rose by 13.3 per cent, from $8.55 million to $9.75 million over the same period.

He added that project approvals increased by 50 per cent, while financial commitments surged by more than 83 per cent to $813.77 million, largely directed towards energy and transport infrastructure.

The bank also mobilised over $510 million and €310 million for priority projects, alongside an additional $100 million in capital mobilisation, reinforcing its role in financing development across the sub-region.

Dr Forson noted that international credit rating agencies, Moody’s and Fitch Ratings, have reaffirmed EBID’s ratings at B2-Stable and B-Stable respectively. He added that the bank has secured accreditation with the Green Climate Fund, opening avenues for climate financing.

“Our discussions here in Accra will be rigorous, and they must be, because we are here to make decisions that will shape the economic future of our Bank and West Africa,” he said.

Despite the positive performance indicators, the Finance Minister stressed that the bank’s capacity to finance projects remains constrained by the existing capital gap.

“Expanding our capital base is essential to strengthening our ability to finance development projects and support economic growth in all member states,” he said.

He also announced the opening of EBID’s regional office in Abidjan to deepen engagement with member countries and enhance operational efficiency.

Dr Forson commended the President of EBID, George Agyekum Donkor, and his team for steering the institution through a challenging global economic environment.

The meeting is ongoing, with governors expected to deliberate further on the bank’s strategic direction and outstanding capital contributions before adopting final resolutions.