AES Reveals New Investment Bank and Stabilization Fund Projects

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AES Reveals New Investment Bank and Stabilization Fund Projects

Monday, 16 September 2024 16:49 Last modified on: 16 September 2024 16:55

On September 16, 2023, Mali, Burkina Faso, and Niger signed the Liptako-Gourma Charter, creating the Alliance of Sahel States (AES). A year later, this confederation unveiled new projects to deepen their integration, including a new passport system.

Yesterday, Colonel Assimi Goïta, the president of AES, announced the implementation of new initiatives to strengthen the integration of the three member countries. He announced this during a speech marking the organization's anniversary.

According to the leader, the projects are part of a strategy to pool efforts in key areas like investment, taxation, and natural resource management. The AES plans to establish an Investment Bank and a Stabilization Fund. However, details about the structure and funding of these institutions were not provided. The AES also aims to develop infrastructure to improve transportation, telecommunications, and information technology across their regions.

Another major project is the introduction of new biometric passports. This move aims to standardize travel documents within the AES and is expected to end the production of ECOWAS-branded passports in these countries. Earlier in September, Burkina Faso announced a new electronic passport system developed by the Chinese company Emptech, meeting the latest International Civil Aviation Organization (ICAO) standards.

Since the military took power in Mali, Burkina Faso, and Niger, these countries have shifted towards an anti-French and integrationist stance. They have left ECOWAS, which they accuse of being influenced by Western powers, and moved closer to Russia. By forming the AES, they aim to collaborate on counter-terrorism efforts and create a confederation.

"True to our commitment to African integration, the confederation remains open to all sub-regional and regional partnerships that respect non-interference and sovereignty," Goïta said. "We envision the AES as not just a state alliance but a people’s alliance," he added.

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