Economic independence for new Sahel bloc accelerated
The Alliance of Sahel States (AES), comprising Burkina Faso, Mali and Niger, is accelerating plans to launch a regional bank, the Confederal Bank for Investment and Development (BCID-AES), according to The North Africa Post (August 7th).
Finance and economy ministers from the three countries convened in Niamey to discuss the bank’s rollout, reaching consensus on the capital required to operationalise the BCID-AES. The bank is expected to play a central role in financing infrastructure and development projects within the AES.
The move follows the trio’s formal withdrawal from ECOWAS last year, after the regional body imposed sanctions and suspended their memberships in response to military coups. Following this rupture, AES has emerged as a parallel regional framework focused on self-determination, sovereignty and cooperation outside of traditional West African structures.
BCID-AES is central to this strategy and is designed to boost economic autonomy and reduce reliance on external donors. This marks a significant shift in regional geopolitics and financial orientation.
Mali’s Finance Minister, Alousséni Sanou, described the bank as a strategic tool for long term transformation, according to the outlet, and urged citizens to support its mission, emphasising that it must serve as a “genuine instrument of economic sovereignty.”
Further consultations are anticipated in the run up to the launch in order to finalise the legal framework and complete the necessary white papers. The bank is expected to prioritise the mobilisation of local resources and the reduction of reliance on foreign aid.
BCID-AES is part of a broader institutional establishment by AES, which also includes plans for joint military cooperation and agricultural initiatives. Whilst the launch timeline remains unspecified, officials stress the urgency of establishing the bank as a foundational pillar of the bloc’s vision for regional autonomy and long-term resilience.
The North Africa Post, Maghrebi
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