His remarks were made during a series of public lectures focused on the theme “Shaping Africa’s Development Finance Landscape: Challenges and Prospects” at the University of Development Studies (UDS) School of Business in Tamale, Ghana.

Addressing the financial obstacles in capital markets, the President of EBID underscored that although private credit might decline during economic downturns, Development Finance Institutions (DFIs) are essential in providing long-term funding for investment projects. He pointed out the pivotal role of DFIs in assisting governments to revitalize struggling sectors and support economic recovery amidst various global challenges.

“DFIs play a crucial role in the advancement and development of emerging and developing countries. They are indispensable in promoting market growth, reducing risks, and enabling investors to explore untapped opportunities,” remarked Dr. Donkor. He added, “Over the years, EBID has distinguished itself as the premier DFI in West Africa, acting as a key catalyst for the region by financing significant ECOWAS projects and initiatives across vital economic sectors.”

He stressed the urgency for policy reforms, including robust corporate governance frameworks within DFIs, comprehensive risk management strategies, and effective monitoring and evaluation systems to enhance their contributions to the African economy.

The lecture also explored innovative financial instruments, such as green funds, and outlined strategies to position Africa as an emerging hub for investment, while advancing towards the Sustainable Development Goals (SDGs) and the African Union Agenda 2063. The Pro Vice-Chancellor of the University, Professor Elliot Haruna Alhassan, who stepped in for Vice Chancellor Professor Seidu Alhassan, presided over the event, which attracted esteemed scholars, finance professionals, students, and community members.