The ECOWAS Commission and ECOWAS Bank for Investment and Development (EBID) have decided to deepen their cooperation in areas of shared interest


The ECOWAS Commission and ECOWAS Bank for Investment and Development (EBID) have decided to deepen their cooperation in areas of shared interest.
Source: AUN NewsThe management of the ECOWAS Bank for Investment and Development (EBID) was welcomed by the ECOWAS Commission Leadership, led by H. E. Dr. Omar Alieu Touray, on Thursday, August 25, 2022, to the commission’s headquarters in Abuja, Nigeria, for a working visit to strengthen collaboration, expand cooperation, and explore areas of mutual interest for the prosperity of the people in the sub-region.

President of EBID, Dr. George Agyekum Nana Donkor, paid President Touray a courtesy call in which he congratulated him on a successful inauguration and assured him of EBID’s support for his term. The EBID President stated that although the ECOWAS sub-region is now confronting several economic and security issues, the sub-region will undoubtedly overcome these obstacles given the new President’s track record of public service and diplomatic experience. He continued by stating that although EBID was established in 1975, operations didn’t begin until 1979. This was done to help Member States’ programs and objectives for development.

Four essential policies

The ECOWAS Commission President, H.E. Dr. Omar Alieu Touray, responded by thanking the EBID management for their visit and support of the new administration. He said the new slogan “ECOWAS of the People” was developed to bring shared prosperity to the sub-citizens. Region This will be accomplished through the new ECOWAS Commission’s four key poverty reduction policies, economic integration, good governance, and due process. He continued by saying that powerful institutions with profound collaboration must be created to implement these ideas. He then asked EBID for help in achieving the goals during his presidency. Following that, a working session was held with the management of the Commission under the direction of the Vice President, H. E. Madame Damien L. Tchintchibidja.

During the working session, H. E. Madame Damien L. Tchintchibidja, vice president of the ECOWAS Commission, welcomed all of the EBID management once more and reaffirmed the commission’s commitment to fostering partnerships with them. On his part, the president of EBID discussed the bank’s history and organizational structure while highlighting recent successes in projects and operations among the Member States.

The meeting then moved into a private session where topics of common interest were discussed, including the payment of capital subscription by the Member States, interest subsidy funds, the status of the cyber security grant, the state of the EU Pillar Implementation, the Joint Resource Mobilization Strategy, the revitalization of the Permanent Committee for Studies and Research, and the administration of the ECOWAS Staff Pension Funds. After the meeting, both parties agreed to continue discussing their shared issues to forge close ties.

Analysis by: Advocacy Unified Network

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