ECOWAS secures $38M grant to strengthen SMEs

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At the Sixth Mid-Year Coordination Meeting of the African Union in Accra, Ghana, Nigerian President Tinubu spotlighted ECOWAS’ significant accomplishments and outlined future initiatives.

President Tinubu announced a $38 million grant and a $140 million loan for SMEs in ECOWAS and Sahel countries to enhance sustainable electricity access.

He also emphasized the ECOWAS Bank for Investment and Development’s approval of the Regional Fund for Agriculture and Food, aiming for rice self-sufficiency.

Highlighting pastoralism support, Tinubu noted the vaccination of over 490 million livestock and the establishment of veterinary medicine control rules.

ECOWAS has also initiated access to the Green Climate Fund to promote climate-smart agriculture.

He commended the ratification of the WTO Fisheries Subsidies Agreement by six-member states and the AfCFTA agreement by 13-member states.

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Tinubu also confirmed the operationalization of the ECOWAS Interconnected System for the Management of Goods in Transit in 12-member states, enhancing regional trade.

On security, Tinubu mentioned the $4 million support for counter-terrorism efforts.

He also detailed educational advancements, health initiatives, and support for displaced persons and refugees.

Addressing challenges like member state withdrawal, terrorism, food insecurity, and climate change, Tinubu stressed the importance of dialogue with Burkina Faso, Mali, and Niger.

He concluded by reaffirming ECOWAS’ commitment to regional cooperation and development.


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