BAMAKO, Mali – The Heads of State of the Alliance of Sahel States (AES) inaugurated the Confederal Bank of Investment and Development (BCID-AES) on Tuesday, aiming to boost regional economic development.
Mali’s General Assimi Goïta, Niger’s General Abdourahamane Tiani, and Burkina Faso’s Captain Ibrahim Traoré presided over the launch in Bamako.
Initial funding of around 500 billion CFA francs (approximately $820–890 million USD) was contributed by member states. Leaders also announced plans to implement a confederal levy to sustain the bank.
The BCID-AES will finance major projects in infrastructure, including roads, rail, and aviation, as well as energy, agriculture, and industrial development. The initiative seeks to promote economic sovereignty, reduce reliance on external donors such as the World Bank and IMF, and support sustainable growth for the AES’s estimated 78 million citizens.
Babatunde AKinsola ✔
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