IPNEWS: Under the coordination of His Excia Damtien TCHINTCHIBIDJA, Vice-Chairman of the ECOWAS Commission, the ECOWAS Regional Fund for Stabilization and Development is an initiative supported by the German Federal Ministry for Economic Cooperation and Development (BMZ), aimed at promoting socio-economic stabilization and recovery in vulnerable communities in the ECOWAS region. The launch of the activities of this initiative was made on Wednesday, September 11, 2024 in Cotonou, Benin, before the Benin press by Habib TIDJANI, Technical Advisor to the Minister of State for Finance and Economy of Benin, in the presence of His Excia. Amadou DIONGUE, ECOWAS Resident Representative in Benim, Felix KRESS, Cooperation Officer of the German Embassy, representatives of GIZ, KFW and national implementation partners.
This release follows the signature, by His Excia. Dr. Omar Alieu TOURAY, Chairman of the ECOWAS Commission, and His Excia. Romuald WADAGNI, Minister of State for Economy and Finance of the Republic of Benim, according to the subsidy agreement of ECOWAS direct contribution to the Regional Fund for Stabilization and Development. The funding agreement, which involves an amount of $2 million to finance socio-economic stabilization interventions in the Atacora, Donga and Hills departments, during the period 2024-2027, represents part of a total funding of β¬17 million that Benin may receive in support of the FRSD.
At his speech during the official launching ceremony of FRSD in Benim, Sua Excia. Amadou DIONGUE, on behalf of the President and Vice-President of the ECOWAS Commission, expressed the gratitude of the sub-regional institution to the Government of Benim and its leader. After recalling the current challenges of ECOWAS, the Resident Representative spoke about the history and reasons behind the creation of FRSD. Β«This project demonstrates that the fight against violent extremism does not depend only on military actions. “It is about anticipating and creating basic socio-economic infrastructures, strengthening the capacities of vulnerable populations to return them hope, and implementing governance policies that preserve our fragile coexistence,” he added.
Representing the German Federal Ministry for Economic Cooperation and Development, Felix KRESS stressed the German government’s readiness to support ECOWAS through GIZ and KFW. He concluded by expressing the desire for the activities planned within the framework of FRSD to be accelerated.
When officially launching the activities of the Fund, on behalf of the Minister of State for Economy and Finance of Benim, Technical Advisor Habib TIDJANI referred to the various consultations undertaken by the Government of Benim with local actors and stakeholders in the targeted areas, as well as efforts to ensure that FRSD’s activities are in line with local and national development plans. It also highlighted the creation of a national advisory committee, chaired by the Ministry of Economy and Finance and composed of representatives from several governmental and non-governmental agencies, to ensure that the activities of this project reflect national priorities. Β« This project demonstrates the strong partnership between the ECOWAS Commission and the Government of Benin in building a strong region, in accordance with Vision 2050 of an ECOWAS of the peopleΒ», he added.
Following the official launch speech, a brief presentation of FRSD was made by Raouf SALAMI, Executive Assistant to the Vice-President of the ECOWAS Commission, followed by a question and answer session with the media.
The Regional Fund for Stabilization and Development is an initiative launched in 2019 by ECOWAS. The first phase of the project has been implemented in The Gambia (2019-2024). The second phase, from 2024 to 2027, is being implemented in Benim, Togo and Guinea-Bissau, and covers three main areas of intervention: employment (vocational training, basic infrastructure, entrepreneurship promotion, etc.) ), environment (reforestation, irrigation, renewable energy, etc. ) and services for social cohesion (sport, media for peace, conflict resolution mechanisms, etc. ).
In Benim, this project aims to benefit about 24,000 people, and is implemented in partnership with the Benim Government, German cooperation and national partners such as CARE .
