3rd edition of the periodic meeting between the African Development Bank (AfDB), Regional Economic Communities (RECs) and regional and continental financial institutions.

The ECOWAS Commission delegation, led by H.E Dr Omar Alieu TOURAY, participated in the 3rd edition of the periodic meeting on financing African development

Nairobi, Kenya – Le 30 mai 2024 – The delegation of the ECOWAS Commission, led by His Excellency Dr Omar Alieu TOURAY, actively took part in the discussions during the third edition of the periodic meeting between the African Development Bank (AfDB), the Regional Economic Communities (RECs) and regional and continental financial institutions. This crucial event, held in Nairobi, brought together key stakeholders to discuss critical issues related to financing development in Africa.

The main objective of this meeting was to strengthen collaboration and promote effective synergies between the different entities to support development initiatives on the African continent. Discussions focused on various aspects of development financing, including resource mobilization mechanisms, sustainable investment strategies, and innovative approaches to overcoming the financial challenges facing African countries.

During his intervention, H.E Dr Omar Alieu TOURAY underlined the importance of strengthened cooperation between the AfDB, the RECs and regional financial institutions to achieve the sustainable development goals in Africa. He also highlighted the crucial role of ECOWAS in promoting regional economic integration and facilitating the implementation of structuring projects.

According to  Dr TOURAY, It is imperative that we unite our efforts and maximize our resources to stimulate the economic development of our continent. Collaboration between institutions is essential to create conditions conducive to inclusive and sustainable growth.

Participants at the meeting also explored avenues to improve access to financing for small and medium-sized enterprises (SMEs), which are considered important drivers of economic growth and job creation in Africa. The need to develop resilient infrastructure and strengthen institutional capacities was also widely discussed.

The third edition of this periodic meeting marks a significant step in strengthening strategic partnerships between the different development institutions in Africa. It paves the way for increased collaboration and concrete initiatives aimed at accelerating economic and social progress on the continent.