ECOWAS Fund for Cooperation, Compensation and Development (ECOWAS Fund)
Fonds de coopération, de compensation et de développement de la CEDEAO (Fonds de la CEDEAO)
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1975-05-28 Lomé Togo
28 May 1975, Lomé (Togo), by Article 50 of the F-XD3462 - Economic Community of West African States (ECOWAS) Treaty. Regulated by Protocol signed 5 Nov 1976. Operations commenced in 1979. During the Head of State Summit, Dec 1999, Lomé, the transformation of the Fund into F-XF6592 - ECOWAS Bank for Investment and Development (EBID) was approved. EBID became operational Dec 2002.
Promote cooperation and development in economic activity, particularly in the fields of industry, transport, telecommunications, energy, natural resources, commerce, monetary and financial questions and in social and cultural matters, in order to raise living standards, increase and maintain economic stability, foster closer relations among members and contribute to progress and development of the African continent.
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Board of Directors (meeting at least 4 times a year) comprises 15 ministers. Board takes part in ECOWAS Statutory Meeting (twice a year) with ECOWAS Council of Ministers and Technical Commissions, plus (once a year) the Head of State Summit, the Summit being held in the country of the current President of the Authority of Heads of State, the other meeting alternately at Headquarters of the Fund and the Executive Secretariat of ECOWAS.
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UN Sustainable Development Goals **
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** UN SDGs are linked to the subject classification.
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