The President of the ECOWAS Bank for Investment and Development (EBID), Dr. George Agyekum Donkor, advocated for a massive increase in climate finance in Africa at the 2025 African Finance and Industry Summit (AFIS) in Casablanca, Morocco. Speaking on the theme "Climate and Bond Markets: How to Build Africa's Sustainable Financial Arsenal," Dr. Donkor noted that the continent already possesses considerable domestic resources to support climate-smart projects.

According to him, Africa has over $160 billion in pension funds, $40 billion of which are concentrated in West Africa, primarily invested in government bonds and instruments. "The challenge is not a lack of resources, but the attractiveness of projects and the will to implement them," emphasized the president of the BIDC. He urged African governments and institutions to mitigate the risks associated with climate projects and to establish regulatory frameworks conducive to mobilizing green capital, in order to accelerate the energy transition and support sustainable growth.

Dr. Donkor also highlighted the unique role of development finance institutions (DFIs) as catalysts for green resources to help states achieve their sustainable investment goals. As an example, he noted that the BIDC was the first DFI to issue, in July 2024, a green, social, and sustainable (GSS) bond on the WAEMU market to finance projects that meet environmental, social, and governance (ESG) criteria.

The African Finance and Industry Summit (AFIS) is a major annual platform bringing together financial institutions, private sector leaders, policymakers and development partners to advance dialogue and action for Africa's industrial and financial transformation.