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0 News Ghana, Latest Updates and Breaking News of Ghana, News Ghana, https://newsghana.com.gh/ebid-wins-financial-institution-of-the-year-at-african-sustainability-awards/
The ECOWAS Bank for Investment and Development (EBID) has been awarded Financial Institution of the Year in the Africa category at the prestigious African Sustainability Awards.
This recognition, granted by the Advisory Board of the African Sustainability Awards in collaboration with UNESCO, acknowledges EBID’s exceptional contributions to sustainable development across the African continent.
The award will be presented at a ceremony on December 30, 2024, at the Accra International Conference Centre in Ghana. EBID’s commitment to advancing Africa’s environmental, social, and economic progress in alignment with the United Nations Sustainable Development Goals (SDGs) was a key factor in its selection.
Under its 2021-2025 strategy, EBID has already committed over USD 1 billion to sustainability-driven projects, focusing on improving access to sustainable financial resources in West Africa. This commitment has been reinforced by international recognition, including a EUR 100 million line of credit extended by the European Investment Bank (EIB) to support climate-friendly projects in the ECOWAS region.
In addition to its financial contributions, EBID has taken significant steps in green financing. The bank published its first Environmental, Social, and Governance (ESG) Finance Framework in February 2023, and in October 2023, it hosted its inaugural “President’s Round Table” focused on “Greening West Africa” and addressing the region’s climate challenges.
Notably, EBID also made history as the first Development Finance Institution (DFI) to issue a Green, Social and Sustainable (GSS) Bond on the UEMOA regional financial market, the Bourse Régionale des Valeurs Mobilières (BRVM), which was oversubscribed within 48 hours. The Bank is currently in the process of securing accreditation with the Green Climate Fund (GCF) and recently held high-level discussions with GCF representatives on enhancing its support for sustainable development in the region.
The African Sustainability Awards celebrate those who demonstrate outstanding commitment to sustainable practices, with EBID’s recognition underscoring its growing influence in fostering sustainable economic and environmental development in West Africa.
News Ghana, Latest Updates and Breaking News of Ghana, News Ghana, https://newsghana.com.gh/ebid-wins-financial-institution-of-the-year-at-african-sustainability-awards/
