In assurance to uphold Sustainable Development and Green Financing of Key Projects The ECOWAS Bank for Investment and Development launched Environmental Social and Governance Financing Framework
By Abdul Rahman Bangura-
NEW AFRICA BUSINESS NEWS (NABN) Freetown, Sierra Leone- A testimony by the commission tells the Framework which has amassed an effective appraisal will take advantage of a major function in connecting the Bank’s resource mobilization strategy with its motives of facilitating resilient, inclusive, and sustainable development in its member states.
It justifies that, the Framework will enable the Bank to structure and commit Environmental, Social and Governance-related funding transactions that favor the deployment of capital summed up in the Strategic Plan of 2021-2025.
The Financing Framework comprises four green project categories and seven social project categories, all of which have been evaluated as developing a constructive assistance to sustainability. ECOWAS Bank for Investment and Development is a steering regional investment and development bank, possessed by the 15 ECOWAS Member States, based in Lomé, Togolese Republic, devoted to financing developmental
projects and programmes encircling various enterprises from infrastructure and basic frills.
The ECOWAS Bank intervenes through long, medium, and short-term loans, equity participation, lines of credit, refinancing, financial engineering operations and related services.
For New Africa Business News (NABN) Abdul Rahman Bangura Reports, Africa Correspondent