Alliance of Sahel States establishes investment bank
– Mali, Burkina Faso, Niger launch financial institution with $895M capital to support development projects
By Fatma Esma Arslan Ozdel and Merve Berker
DAKAR, Senegal/ The Alliance of Sahel States (AES), comprising Mali, Burkina Faso and Niger, established an investment and development bank Wednesday to finance major infrastructure and economic initiatives across the region.
Burkina Faso’s Economy, Finance and Planning Minister Aboubakar Nacanabo announced the completion of the establishment process with an initial capital of $895 million, following a meeting with finance ministers from the three countries.
AES had unveiled plans in May to form a regional investment bank to support large-scale projects and strengthen financial independence.
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