The leaders of Mali, Burkina Faso, and Niger on Tuesday inaugurated a new regional development bank in Bamako, launching what they described as a key financial pillar of the Alliance of Sahel States.
The Confederal Bank for Investment and Development of Sahel Sates (BCID-AES) begins operations with 500 billion CFA francs ($830 million) in capital, fully funded by the three governments. Officials said the bank will prioritize investment in infrastructure, agriculture, and energy across the bloc’s territory.
The bank is described as a strategic institution intended to strengthen economic sovereignty and support major development projects, according to a statement from the Malian presidency.
The ceremony was attended by Mali’s transitional president, Gen. Assimi Goïta, who currently chairs the bloc, along with Burkina Faso’s Capt. Ibrahim Traoré and Niger’s Gen. Abdourahamane Tiani. The event also marked the launch of AES Television, a new regional broadcaster aimed at promoting local perspectives.
Formed in 2023 after the three countries withdrew from the West African regional bloc ECOWAS, the Alliance of Sahel States has since deepened military and political ties.
According to the Burkina Faso presidency, the institution is tasked with mobilizing sovereign funds and financing projects that support food security, regional connectivity, and private-sector growth.
The alliance’s leadership says the BCID-AES is designed to be a long-term vehicle for endogenous financing aligned with the region’s development priorities.
