Finance and economy ministers from the Alliance of Sahel States (AES) have called for accelerated operationalization of the newly established Confederal Bank for Investment and Development.
The appeal came during a ministerial committee meeting in Niamey, Niger, on Thursday, according to an official communiqué.
Ministers from Burkina Faso, Mali, and Niger agreed to prioritize consultations for implementing the bank’s initiatives and securing capitalization within stipulated timelines. The institution aims to finance sovereign projects, reduce reliance on external funding, and mobilize local savings for structural investments across AES economies.
The communiqué emphasized the ministers’ “strong commitment” to deploying all necessary measures for the bank’s effective implementation. This initiative follows the three nations’ formal withdrawal from the Economic Community of West African States (ECOWAS) in January 2024, marking a strategic shift toward regional financial self-reliance.
No specific capitalization targets or operational deadlines were disclosed in the statement. The bank represents a cornerstone of the AES alliance, formed by Burkina Faso, Mali, and Niger amid ongoing regional security and political realignments.
