AES Bank: ‘Historic’ Step Forward for Sovereignty of Sahel Countries, Says Economist

The inauguration of the Confederal Bank for Investment and Development marks a “break” with institutions such as the IMF, which condition their financing, declared Mohamed Diakité to Sputnik Africa.

“This reflects a determination to equip the AES with a sovereign financial instrument designed by the alliance’s member states. It is also an instrument of economic integration for these three countries, which together represent more than 70 million inhabitants and are rich in mineral, agricultural, and energy resources.”

What changes? Not oriented toward profitability, the bank will be “aligned with the realities of the Sahel” and able to finance structuring projects, according to the expert. He cites sectors such as:

Energy

Transportation

Agro-industry

Local processing

Mining projects with added value

Basic pharmaceutical industry

Source:

https://en.sputniknews.africa/20260123/1082732895.html

“The BCID-AES can play a catalytic role by reducing risks, mobilizing co-financing, and directing investments toward the local transformation of resources and regional economic integration,” concluded Mohamed Diakité.