AfDB and ECOBANK Explore Development Financing Possibilities on the Continent
An ECOBANK Group delegation, led by its Director-General, Arnold Ekpe, had a working session with AfDB Private Sector Department (OPSM) officials on Friday, September 11, 2009, at the AfDB’s Temporary Relocation Agency in Tunis. The delegation had earlier met with Bank Group President, Donald Kaberuka, on the eve of its meeting with OPSM officials where they discussed issues of common interest.
The meeting with OPSM officials enabled the delegation to present its institution and to explore partnership possibilities to finance Africa’s economic development. Opening the discussions, OPSM Director, Tim Turner, said the meeting came at the right moment. "It makes it possible to better know ECOBANK and to examine, with its officials, the impact of the global financial crisis on African countries it serves." The meeting enabled participants to review ECOBANK’s financial performance as well as prospects and relations with the AfDB. "Our mission is to build a real regional African Bank and to help the continent’s economic and financial development efforts," the institution’s Director-General, Arnold Ekpe, said. He explained his group’s strategy which has enabled it to cover 28 countries on the continent.
With 750 agencies across the continent, ECOBANK has become the “the premier regional commercial bank.” Mr. Ekpe also underscored the leading role that ECOBANK could play in the region by serving as an AfDB conduit in the financing of development projects. The ECOBANK delegation also included Executive Director Paulo Gomes and Treasurer Steve Williams, while that of the AfDB included Division Manager, Leila Mokadem, and Division Manager, Samuel Ekue Mivedor.