The United States Agency for International Development (USAID) has committed $1 billion to the Economic Community of West African States (ECOWAS) to enhance economic development in the region.
This substantial pledge was announced on the ECOWAS official website on Tuesday, May 21, 2024, and aims to fortify the partnership between the two entities, promoting growth and stability in West Africa.
In a meeting held in Abuja, Mrs. Jo Lesser Oltheten, the Regional Director for West Africa of USAID, emphasized that this financial assistance is designed to address the specific needs of the ECOWAS member states.
“The next five-year cooperative agreement, with an estimated budget of 1 billion US dollars, will cover a number of thematic areas and will focus on the specific needs of ECOWAS and its Member States in order to boost the region’s economic development and the resilience of its people in the face of multiple economic, security and climate challenges,” Oltheten stated.
This initiative will target critical sectors such as industry, transport, telecommunications, energy, agriculture, and natural resource management.
Welcoming this development, Mrs. Damtien L. Tchintchibidja, Vice-President of the ECOWAS Commission, expressed her gratitude towards USAID for reinvigorating the collaboration.
She highlighted that the forthcoming partnership will encompass a wide range of areas, including peace and security, early warning mechanisms, agriculture, health, gender, social inclusion, energy, and communication.
“Experts from the ECOWAS sectoral departments are ready to identify the various areas of cooperation that will contribute to the stabilization and consolidation of democracy, peace, and regional security, as well as the implementation of regional programs and the achievement of sustainable development objectives in Member States,” Tchintchibidja affirmed.
