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On Thursday, August 25, 2022, the leadership of the ECOWAS Commission, led by His Excellency Dr. Omar Aliu Turai, welcomed the management of the ECOWAS Bank for Investment and Development (EBID) to the commission’s headquarters in Abuja, Nigeria, on a working visit to strengthen cooperation, expand cooperation and explore areas of mutual interest for the prosperity of the people of the subregion.

This was the focus of the President of EBID, Dr. George Ogyekum, Nana Donkara, during a courtesy call on President Toure, where he congratulated the President on a successful inauguration and assured him of EBID’s support throughout his tenure. The EBID president said the new ECOWAS leadership came at a time when the sub-region was facing many economic and security challenges, but given the new president’s track record and diplomatic experience, the sub-region would surely overcome these challenges. He added that EBID was established in 1975 but started its activities in 1979 with the aim of supporting development projects and programs of member countries.

In his response, the President of the ECOWAS Commission, His Excellency Dr. Omar Aliu Tourei thanked the management of EBID for their visit and support to the new administration. He stated that the new ECOWAS mantra of the people was created to ensure overall prosperity for the people of the sub-region, which would be achieved through the four main strategies of the new ECOWAS commission, namely poverty reduction, economic integration, good governance and due process. He added that to achieve these strategies, deep collaboration and strong institutions with the right resources and processes must be built. He then requested EBID support to make the goals a reality during his tenure. After that, the meeting moved into a working session with the leadership of the Commission led by the Vice President HE Madam Damtien L. Chinchibija.

At the working session, the Vice President of the ECOWAS Commission HE Madam Damtien L. Chinchibija once again welcomed the management of EBID and confirmed the commitment of the Commission to expand relations with them. The President of EBID, for his part, shared the bank’s organizational structure and history, focusing on recent achievements in terms of projects and operations in member countries.

The meeting later moved into a closed session to discuss issues of mutual interest, including the payment of capital subscriptions by member states, interest subsidy funds, the status of the Cyber ​​Security Grant, the status of the implementation of the EU framework, the joint resource mobilization strategy, the revitalization of the Standing Committee on research and management of ECOWAS personnel pension funds. The meeting ended with determination of both sides to continue interaction on mutual issues to achieve strong ties.

Distributed by APO Group on behalf of the Economic Community of West African States (ECOWAS).

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