The Board of Governors of the ECOWAS Bank for Investment and Development (EBIDC) met on 27 October 2022 in Praia (Cabo Verde). On occasion, the increase in the institution's share capital was approved.

BIDC's capital is now increasing from $1.5 billion to $3.5 billion as of January 2023. According to George Agyekum-Nana Donkor, the Ghanaian president of the BIDC, this is a “very strategic” decision. This decision comes particularly at a time when the bank is intensifying its resource mobilization activities and aims to be a leading regional development finance institution, resolutely determined to play a major role in supporting eacute; to the member States of ECOWAS. Thus, the Lomé based institution intends to improve its leverage, capital adequacy, liquidity, overall risk-taking capacity and rating through this capital increase.