Public Management

AES Reveals New Investment Bank and Stabilization Fund Projects

AES Reveals New Investment Bank and Stabilization Fund Projects
Monday, 16 September 2024 16:49

On September 16, 2023, Mali, Burkina Faso, and Niger signed the Liptako-Gourma Charter, creating the Alliance of Sahel States (AES). A year later, this confederation unveiled new projects to deepen their integration, including a new passport system.

Yesterday, Colonel Assimi Goïta, the president of AES, announced the implementation of new initiatives to strengthen the integration of the three member countries. He announced this during a speech marking the organization's anniversary.

According to the leader, the projects are part of a strategy to pool efforts in key areas like investment, taxation, and natural resource management. The AES plans to establish an Investment Bank and a Stabilization Fund. However, details about the structure and funding of these institutions were not provided. The AES also aims to develop infrastructure to improve transportation, telecommunications, and information technology across their regions.

Another major project is the introduction of new biometric passports. This move aims to standardize travel documents within the AES and is expected to end the production of ECOWAS-branded passports in these countries. Earlier in September, Burkina Faso announced a new electronic passport system developed by the Chinese company Emptech, meeting the latest International Civil Aviation Organization (ICAO) standards.

Since the military took power in Mali, Burkina Faso, and Niger, these countries have shifted towards an anti-French and integrationist stance. They have left ECOWAS, which they accuse of being influenced by Western powers, and moved closer to Russia. By forming the AES, they aim to collaborate on counter-terrorism efforts and create a confederation.

"True to our commitment to African integration, the confederation remains open to all sub-regional and regional partnerships that respect non-interference and sovereignty," Goïta said. "We envision the AES as not just a state alliance but a people’s alliance," he added.

Additional Info

  • communiques: Non
  • couleur: N/A
On the same topic
SMEs drive up to 40% of GDP and most jobs but face regulatory and financial constraints Power shortages and limited access to finance remain major...
BOA Niger warns net profit to drop 92% in 2025 Decline driven by high provisions amid rising non-performing loans Sanctions and weak lending...
Togo minister opens talks with private sector to boost growth Businesses cite financing gaps, debt, and energy costs as...
British International Investment and Deutsche Bank launch a $150 million facility to support trade finance across Africa. The program...
Most Read
01

Togo parliament adopts WAEMU law against currency counterfeiting Bill defines offences including ...

Togo Passes Law to Criminalize Counterfeiting of West African CFA Franc
02

Since its 2019 IPO, Airtel Africa paid Deloitte over $37 million in audit and non-audit fees,...

Airtel Africa and Deloitte: A Seven-Year Relationship, $37 Million in Fees and a Planned Handover
03

CCR-UEMOA presents mid-term review of private sector competitiveness efforts Reforms, AfCFTA trai...

Strengthening the Business Climate in WAEMU Countries: CCR-UEMOA Reviews Its Midterm Record
04

World Bank announces $137 million to boost West Africa digital economy Program expands broad...

Benin, Liberia and Sierra Leone Receive $137M to Expand Digital Access for 5.2 Million People
05

Tilenga oil project required land from 4,954 households in Uganda Over 99% of affected households...

Report details land compensation for nearly 5,000 households in Uganda’s Tilenga oil project
Enter your email to receive our newsletter

Ecofin Agency provides daily coverage of nine key African economic sectors: public management, finance, telecoms, agribusiness, mining, energy, transport, communication, and education.
It also designs and manages specialized media, both online and print, for African institutions and publishers.

SALES & ADVERTISING

regie@agenceecofin.com 
Tél: +41 22 301 96 11 
Mob: +41 78 699 13 72


EDITORIAL
redaction@agenceecofin.com

More information
Team
Publisher

ECOFIN AGENCY

Mediamania Sarl
Rue du Léman, 6
1201 Geneva
Switzerland

 

Ecofin Agency is a sector-focused economic news agency, founded in December 2010. Its web platform was launched in June 2011. ©Mediamania.

 
 

Please publish modules in offcanvas position.