At the invitation of Dr. Sidi Ould TAH, Director of the Arab Bank for Economic Development in Africa (BADEA), a high-level delegation from the Economic Community of West Africa (ECOWAS) including the President of the Commission Mr. Marcel Alain de Souza and Commissioner for Macroeconomic Policies Mr. Mamadou Sinaly TRAORE has completed a two-day working visit to the headquarters of the Institution in Khartoum, Sudan.
The heads of the two Institutions analyzed together the project ideas submitted by ECOWAS and exchanged views on the financing opportunities offered by BADEA to the ECOWAS member states.
It emerges from these exchanges that at the level of BADEA, several financing opportunities are available to the benefit of ECOWAS member states, in particular in the areas of private sector promotion, micro finance, rural electrification through solar energy, imports from the Arab countries, the establishment of competent structures for the management of cancer diseases and epidemics.
Concerning the promotion of the Private Sector, BADEA plans to submit to its Board of Directors in December a financing line of US $ 15 million to support eligible projects in the private sector.
A second funding line of US $ 30 million will be made available to ECOWAS Member States to ensure imports from the Arab States.
Concerning microfinance, a study is ongoing for the establishment of a credit line to be housed at EBID (ECOWAS Bank for Investment and Development).
Concerning the energy sector, BADEA has agreed to finance, in the ECOWAS member states, a technical and economic feasibility study on rural electrification using solar energy. Within this framework, Member States should provide a list of target villages.
In the area of health, BADEA is ready to accompany the ECOWAS Member States interested in setting up health facilities to tackle cancer diseases and epidemics such as Ebola, Lassa.
From the ECOWAS side, Mr. Bashir Ifo, President of the ECOWAS Investment and Development Bank (EBID), Mr. Soudeo Saye Goanue, Director of the Department Research and Strategic Planning at EBID, and Mr. Franck W. Brathier, Executive Assistant to the Chairman of the ECOWAS Commission attended the meeting.
On the BADEA side, in addition to President TAH, Mr. Kamal Mahmoud, Director of the Operations Department, Mr. Ahmed Sidi Ahmed Chouaib, Head of the Cooperation and Programs Division, Mr. Mohamed Ben Salah, Projects and Mr. Karim Chourou, Senior Financial Analyst attended the meeting.