EBID President Delivers Speech to the International Conference of the ECOWAS Community Court of Justice
During his recent visit to the Republic of Cabo Verde, the President of the ECOWAS Bank for Investment and Development (EBID), Dr. George Agyekum Donkor, delivered a goodwill message at the International Conference of the ECOWAS Court of Justice held in Praia on May 9, 2022, to discuss the legal climate in the Community.
He informed the conference that as the regional Development Finance Institution (DFI) providing financing solutions for both public and private sector projects in Member States, EBID was all too familiar with the legal challenges posed by doing business across countries. In fact, he stated that the gaps in the general legal infrastructure adversely impact the sub-region’s ability to attract investments.
He cautioned against regional economic integration models that do not consider implementation of measures to give companies especially small and medium scale Enterprises (SMEs), a modicum of predictability and certainty when entering into international transactions which can then be factored into costs and reflected in pricing.
The President of EBID also called on all stakeholders to consider: framing treaties and existing protocols as tools to fast-track regional integration especially amidst efforts to promote trade within the framework of The African Continental Free Trade Area (AfCFTA); championing initiatives that further incentivize countries to refer cases to the Community Court especially those involving international plaintiffs and; concretisation of efforts to equip local courts to enforce judgements by the Community Court of Justice through legislations in the various jurisdictions across the ECOWAS Member States.
He concluded by expressing his hope that “by focusing on our aims for the community we will be able to resolve the issues confronting our legal environment.