We have $200m for you to borrow – ECOWAS Bank to governments, businesses

The ECOWAS Bank for Investment and Development has called on governments and private sector companies in West Africa to borrow funds from institutions within the African continent.

 According to the Vice President of Finance and Corporate Services, Dr. Mabouba Diagne, this will help build capacity of African economies.

Speaking at the International Conference on the West African Food Security Storage System, he said “EBID has mobilized more than $200 million, hence I’m calling on all private sector corporations and partners to come with their business plans for support. We have the money and I am calling on governments with very efficient plans to come to us for financing”.

The conference was based on the theme, “West African Food Security Storage System towards a Multilateral Partnership.”

The Minister for Food and Agriculture, Dr Owusu Afriyie Akoto urged his fellow ministers in the sub region to do everything possible to prevent hunger, from going up.

“I wish to encourage all member states to fulfill commitments towards the consolidation and strengthening of this laudable project, mindful of the fact that the number of the population that will go hungry will keep on increasing exponentially with time,” he pointed out.

World Bank representative to West Africa, Amadou Ba, revealed that the Bretton Wood institution is putting measures in place to commence a project to help address hunger on the continent.

“The World Bank is preparing a flagship project in the area of food security but we’re still waiting for the approval of the project. This system resilience will provide specific support for the operationalisation of food security reserves,” he disclosed.

Mawuli Benson, CEO of Glofert Limited – an agriculture chemical manufacturer also pledged on behalf of the private sector to support in eliminating hunger in West Africa.

“The private sector is key to achieving the goals that we’ve set for ourselves in ensuring food security. We have donor agencies that are ready to support. I pledge on behalf of the sector that we will support in any area that we can to ensure that these goals are achieved,” he said.