Finance and economy ministers from member states of the Alliance of Sahel States (AES) have called for the accelerated operationalization of the Confederal Bank for Investment and Development, a newly established financial institution.
The ministers agreed to continue consultations to implement the regional investment bank’s priority initiatives and to proceed with its capitalization within the required timeframe, according to a communique issued Thursday in Niamey, the capital of Niger, following a meeting of the ministerial committee of the new sub-regional institution.
Finance ministers from Burkina Faso, Mali, and Niger reaffirmed their strong commitment to taking all necessary measures to ensure the effective implementation of the initiatives, the communique said.
The regional bank is intended to finance sovereign priorities, reduce reliance on external funding, boost economic and financial self-reliance, and mobilize local savings to fund structural investments that serve the AES economies.
The institution was established by Burkina Faso, Mali, and Niger after their formal withdrawal from the Economic Community of West African States in January. Enditem
Source: Xinhua
Share Us
