Sahel alliance accelerates plans for new regional bank

Sahel alliance accelerates plans for new regional bank
Mali’s Assimi Goïta, Niger’s Abdourahamane Tiani, and Burkina Faso’s Ibrahim Traoré at the first ordinary summit of heads of state and government of the Alliance of Sahel States (AES) in Niamey, Niger, on July 6, 2024. Photo: AFP

Finance ministers from the Alliance of Sahel States — Burkina Faso, Mali, and Niger — agreed in Niamey to fast-track capital release for their new Confederal Bank for Investment and Development, according to Business Insider Africa. The bank aims to finance infrastructure, reduce donor reliance, and boost economic sovereignty following the bloc’s withdrawal from ECOWAS. Officials described it as a strategic tool for long-term regional transformation.

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