Adeosun Now Chairperson Board of Governors ECOWAS Investment Bank

Finance Minister, Kemi Adeosun

Finance Minister, Mrs Kemi Adeosun, has emerged the Chairperson of the Board of Governors of the Economic Community of West African States (ECOWAS) Bank for Investment and Development (EBID).
She was named the new chairperson of EBID at the end of the 15th Ordinary Meeting of the board of governors of the bank in Abuja, the Federal Capital Territory.
Adeosun who suggested ways members could promote regional integration and inclusive development in West Africa succeeded her counterpart from the Republic of Niger, Hassoumi Massoudou.
The meeting which was earlier declared open by the Vice President, Professor Yemi Osinbajo, was attended by ministers of finance of all the 15-member countries that made up the ECOWAS region.
In his speech at the occasion, the Vice President Yemi Osinbajo commended the ECOWAS Bank for investment and Development for being proactive in infrastructure funding and development in the sub-region.
He said, a strong, vibrant and creative EBID is a pillar in development of the sub-region.
Said he, “So, without question, the challenges today call for greater creativity and foresight in supporting and making investments in our member countries.
“So one of the crucial issues today which will decisively impact the future is how the bank can make a difference in the lives of our young people.
“And there are opportunities for strategic investments in relevant education; especially in the under-served disciplines such as science, education, engineering and maths.

‘’Perhaps also the rising scale of foreign investment influence in business start-ups by our young people should be taken by our local finance institutions such as the EBID as a challenge to be just as relevant and invested in the dreams and visions of our local talents.
‘’Here in Nigeria we like to see you become more active in supporting our investments and infrastructure ambitions.’’
According to him, the federal government is working hard to attract greater local and foreign investments and has put in place the needed reforms required to create an enabling environment for these investments.
He noted that the success of the Nigerian economy with its population in the region and as the largest GDP in the continent would positively influence the whole sub region.
Osinbajo also underscored the importance of agriculture in the economic development of West Africa adding that it was important to fund the sector focusing on improved inputs, cutting-edge extension services.

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