EBID President Receives Top Crans Montana Award

Michael Olugbode in Abuja

The President and Chairman of the ECOWAS Bank for Investment and Development (EBID), Dr. Agyekum Donkor has been awarded the prestigious Prix de la Fondation by the Crans Montana Forum at a ceremony in Geneva, Switzerland.

The award was presented to Donkor last Friday by His Royal Highness Prince Jean of Luxembourg and Crans Montana Founder and Chairman, Jean Paul Carteron.

The Crans Montana Forum is a world leading international institution dedicated to Public-Private Sector Cooperation. It has become an elegant meeting place for high level officials and top decision makers from Governments and Business and Prix de la Fondation is awarded in recognition of an accomplished work and serves as a solemn encouragement.

At a cocktail held at the Fairmont Hotel in Geneva ahead of receiving the top award, Donkor highlighted the global economic downturn created by the COVID-19 pandemic and the war in Ukraine.

He said: “The whole world is in economic turmoil as a result of two external shocks, the COVID-19 pandemic and the war in Ukraine. As a result of these challenges, there have been escalating prices of food and energy and economies all over the world are suffering.”

Donkor lamented that food and energy prices have gone up tremendously which has affected the global commodity supply, resulting in price hikes in various jurisdictions, leading to severe economic challenges. He noted that inflation is on the high side, especially with countries that had been experiencing low inflationary records like Japan. Japan had rather been fighting deflation but now they are also battling inflation, he disclosed.