The Sahel Alliance decides to establish an investment bank with an initial capital of 7 billion Euros
Mali, Niger, and Burkina Faso, as part of their tripartite alliance, decided to establish the Sahel Alliance Confederation for Investment and Development Bank, at the conclusion of a meeting of the three countries’ economic ministers in the Malian capital.
The initial capital of this joint bank was set at 500 billion CFA francs, approximately 7.62 billion Euros, which must be mobilized by September 30, 2025, with the remaining capital to be released no later than December 31, 2028.
According to Mali, the headquarters of the Investment and Development Bank and some related strategic issues are expected to be resolved later during a summit of leaders of the Sahel Alliance, of which Mali holds the rotating presidency.
Mali’s Minister of Economy and Finance, Husseini Sanou, said that this bank is more than just a bank; it’s an institution that serves the financial and developmental sovereignty of the Sahel Alliance, adding that it aims to finance key sectors such as energy, infrastructure, agriculture, and education.
For his part, Burkina Faso’s Minister of Economy and Finance, Abubakar Nakanabo, considered this “confederation bank a strong driver for the development of the financial services sector in the Sahel Alliance”.
“With a population of 78 million, 75% of whom are young people, the Sahel Alliance has tremendous potential,” Nakanabo noted.
The announcement of a joint bank between the Sahel Alliance countries comes a day after the alliance held direct consultations with the Economic Community of West African States (ECOWAS), the first of their kind since the three countries officially withdrew from the organization in late January.
