Finance and economy ministers from the Alliance of Sahel States (AES) have moved to accelerate the operationalization of the Confederal Bank for Investment and Development (BCID-AES), a key financial institution recently created by Burkina Faso, Mali, and Niger.
- The Alliance of Sahel States (AES) plans to expedite the establishment of the Confederal Bank for Investment and Development (BCID-AES).
- The bank aims to enhance financial independence and strengthen economic sovereignty within AES members.
- The initiative follows the departure of Burkina Faso, Mali, and Niger from ECOWAS, marking a shift toward regional economic autonomy.
Meeting in Niamey, Niger’s capital, the ministers reached a consensus to release the necessary capital for the bank within the required timeframe, a critical step expected to enable a swift start to the bank’s activities.
The commitment was announced in an official communique following the ministerial committee meeting, as reported by Xinhua.
More than just a conventional financial institution, the BCID-AES is envisioned as a long-term economic tool aimed at strengthening financial independence across the AES bloc. Mali’s Finance Minister, Alousséni Sanou, stressed that the bank should serve as a genuine instrument of economic sovereignty.
According to a Sputnik Africa correspondent, Sanou urged that the institution be seen not merely as a bank, but as a foundation for strategic transformation within the region.
AES states pursue financial independence
The key objectives of the bank include financing critical infrastructure and development projects, reducing reliance on external donors, mobilizing local resources, and advancing the bloc’s overall economic and financial autonomy.
To meet these goals, ministers from the three member countries reaffirmed their joint commitment to taking all necessary steps toward full implementation. They agreed to intensify consultations that would guide the rollout of the bank’s priority initiatives.
Sanou further noted the importance of finalizing legal frameworks and foundational studies, describing them as essential groundwork for the bank’s successful takeoff. He also called on the public to support the initiative, encouraging citizens across the three countries to actively promote the bank and its mission.
The BCID-AES was established following the joint withdrawal of Burkina Faso, Mali, and Niger from the Economic Community of West African States (ECOWAS) earlier this year. The creation of the bank signals a broader shift by the three Sahel nations toward regional self-determination in economic matters.
With political alignment and financial mobilization now underway, the Confederal Bank for Investment and Development is set to become a central pillar in reshaping the AES economic landscape.
Fathia Olasupo
