The Minister of Finance, Mrs Kemi Adeosun has emerged the new Chairman of the Board of Governors of the ECOWAS Bank for Investment and Development. Sh
The Minister of Finance, Mrs Kemi Adeosun has emerged the new Chairman of the Board of Governors of the ECOWAS Bank for Investment and Development. She was named as the new Chairman on Tuesday in Abuja at the 15th Annual General Meeting of the board of governors of the bank. The meeting was declared open by Vice President Yemi Osinbajo and was attended by ministers of finance of all the 15 member states that made up the ECOWAS region. They include Benin, Burkina Faso, Capo Verde, Côte d’Ivoire, The Gambia, Ghana, Guinea, Guinea-Bissau, Liberia, Mali, Niger, Nigeria, Senegal, Sierra Leone and Togo.
While proffering ways the 15-member countries of ECOWAS could promote regional integration and inclusive development in the sub-region, Kemi Adeosun who succeeded her counterpart from the Republic of Niger, Hassoumi Massoudou, said it all had to do with embracing a new development model that promotes inclusive economic growth; radical economic transformation to better the lives of all citizens in the region, and prioritising industrialisation, especially through labour intensive manufacturing to promote job creation for citizens.
Kemi Adeosun noted that past economic growth in the region was not inclusive and called for a new model that would ensure opportunities are shared and enjoyed by more citizens. She observed that the ECOWAS’ vision for economic development was facing challenges and said that the meeting was a good opportunity to discuss the various issues and come to a consensus on the way forward and therefore urged her counterparts in the region to endeavour to speak about radical economic transformation of their economies to guarantee better life for all citizens in the region.
Besides, she said, prioritising industrialisation and agricultural development would promote job creation as well as ensure improved food security.
“Potentially, these areas also provide investors with profitable investment opportunities in our community. Equally critical is the work that is being done to promote regional integration in our sub-region,” she stated.
The EBID is a financial institution established by member states of the ECOWAS with headquarters in Lome, Togolese Republic. The Bank was established to promote private sector and development of the public sector and contribute to the economic development of West Africa through the financing of projects and programmes, particularly those related to transport, energy, telecommunications, industry, poverty alleviation, the environment and natural resources.
Premium Times
