ECOWAS Launches Feasibility Study On Funding of Transport, Energy

20 March 2012
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Economic Community of West African States (Abuja)
press release

Abuja - Nigeria — The Fund for Development and Financing of ECOWAS Transport and Energy Sectors (ECOWAS-FODETE) has launched a feasibility study towards improving infrastructure in the region with emphasis on transport and energy projects.

Speaking during the ceremony at the ECOWAS Commission's headquarters Abuja, 19th March 2012, the Commissioner for Infrastructure, Mr. Ebrima Njie, represented by a Principal Programme Officer in the Transport Directorate, Mr. Gogoua Jules, called on stakeholders, including the ECOWAS Bank for Investment and Development (EBID) andthe consultants to establish a framework for an effective feasibility study. The consortium handling the study made a presentation on the economic, financial and institutional feasibility of FODETE.

The study will cover investment needs in the ECOWAS transport and energy sectors within 20 years as agreed under the terms of reference with eligibility criteria for projects to be funded after the area of needs have been identified. It will also include a data collation exercise with the ECOWAS Commission expected to request National Units of Member States to assist the consultants in obtaining information from the relevant regional institutions.

The consortium is also required to analyze the legal, tax and institutional framework of ECOWAS-FODETE. The consultants were further enjoined not to limit the study to funding in the agriculture, mining and hydrocarbon (oil and gas) sectors, but to also consider other sources of funds including involvement of the private sector and donors.

Also present at the launch were Alliagui Abdoulaye, Director of Community Infrastructure Department in Cote d'Ivoire's Ministry of Integration, Mr. Ibrahima Gueye, ECOWAS Commission's Director of Finance and EBID representatives.

The ECOWAS-FODETE was formed following a decision by the Authority of Heads of State and Governments at its 37th Ordinary Summit in Abuja in June 2009, in collaboration with the African Development Bank (AfDB), EBID and the Project Preparation and Development Unit (PPDU).

Read the original article on Ecowas.

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